Digital lending app, Tala has acquired Sh16.08 billion in startup funding.
The additional disbursement brings to more than Sh38.82 billion the total amount of capital startup funding for the fintech from its partners and new investors such as Kindred Ventures and J. Safra Group.
Tala’s original investors include Stellar Development Foundation, IVP, Revolution Growth, Lowercase Capital and PayPal Ventures.
The digital lender is expected to channel the funds towards innovation of the lending platform to include new savings and credit tools.
Tala is also looking to channel its funds towards geographical expansion with plans to introduce crypto products.
The digital lending platform is currently available in Kenya, the Philippines, Mexico and India.
Tala has disbursed more than Sh299 billion in loans to more than six million customers in the four countries since they launched in Nairobi seven years ago.