Annstella Mumbi, General Manager, Tala Kenya./FILE
A Kenyan fintech firm,
Tala, has expanded to Latin America with the launch of its services in Guatemala.
It is eying the Dominican
Republic and Panama by the end of the year, leveraging its scalable and
flexible proprietary software, Tala in a Box, for rapid geographic
expansion.
While most adults in Latin
America have access to financial products, they still lack access to
essential ones like credit.
Tala is expected to
address this gap through an integrated solution that combines the
intelligence of a credit bureau, the payments execution of a fintech
company and the relationship expertise of a bank to scale responsible financial
access.
To date, Tala has
served over 12 million customers, with two million customers added this
year, and disbursed about $7 billion (Sh905.1 billion) in credit.
In Mexico, the company
has provided 20 million loans to nearly four million customers over the past
eight years, making it Tala’s fastest-growing market.
“Through our
experience serving the Mexican market, we have developed deep insights in
the region and found that existing services still don’t serve the majority
of the population,” said Annstella Mumbi, general manager, Tala Kenya.
According to Mumbi, the
company’s growth is fueled by its proprietary technology, designed to
meet the unique financial needs of the underserved population
For instance, Tala in
a Box unlocks rapid geographic expansion by enabling Tala to scale across
new markets simultaneously.
This end-to-end
financial supply chain includes Tala InSight, the company’s patent-pending
AI model and financial identity capabilities, along with transfers,
payments, and rails abstraction services.
The firm has already
introduced millions of new consumers to global financial markets.
Earlier this year, the
company shared that it is building on a three-year revenue CAGR of 35 per cent.
This expansion into
Latin America marks a new phase of growth at Tala, powered by advanced
technology and a decade of experience serving the global majority across three
continents.