PayPal Finds Value in Alt Lender Tala
25 de Octubre 2018
Tiempo estimado de lectura: 1 minuto
Tala says the funding will be used for further product development and expansion of its reach.
The 300-employee-strong startup, which lends to individuals in countries including Kenya and Mexico through its smartphone app, has originated over $500 million in loans to date. PayPal has been expanding into the un- and underbanked market recently, having launched a prepaid product, dubbed PayPal Cash Mastercard, in April this year, and investing in Tala seems like a logical progression of this strategy. And, with more than two-thirds of adults globally lacking formal credit records, Tala’s offering has a large addressable market. By partnering with Tala, PayPal not only diversifies its revenue streams, but also opens up the possibility of onboarding Tala’s users to its range of financial services. For Tala, a strategic partnership with an industry giant is likely to offer it valuable support as its scales its business.
Fuente: Business Insider
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