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Victory Park Capital Provides $40MM in Debt Financing for Tala

October 27, 2021, 07:40 AM
Filed Under: Technology

Tala, the global technology company building the world’s most accessible financial services, received $40 million in debt financing from Victory Park Capital. This financing follows the recent close of Tala’s Series E funding round.

The partnership with VPC will enable Tala to expand its core credit product in Mexico and increase financial inclusion by offering instant credit to more underserved individuals across the country. Tala’s mobile technology and AI-powered underwriting models allow the company to rapidly provide capital to a population that is unable to access credit through traditional financing sources.

“It’s expensive and inconvenient to be excluded from the financial system. That’s why Tala has long been committed to leveraging mobile technology and data science to make financial services more accessible, more useful, and more affordable for the people who need them most,” said Shivani Siroya, Tala founder and CEO. “Our partnership with Victory Park Capital is important to us, as we share the same mission of increasing financial inclusion. With their help we’ll be able to quickly expand Tala’s ability to provide solutions for consumers along every step of their unique financial journey.”

Tala provides an easy and efficient loan application process to borrowers. Unlike the paper-based loan application process of banks, Tala allows prospective borrowers to apply for credit through a smartphone application that takes just a few minutes to complete with one proof of ID.  Approved customers receive credit in their account within 10 minutes of applying. Tala also offers its customers a wide variety of payment options, ranging from payments at brick-and-mortar locations to online payment options.

“We are excited to be partnering with Tala at a pivotal moment in the company’s growth trajectory and evolution as a leading Fintech company in Mexico,” said Jason Brown, partner at VPC. “Tala has a strong management team and highly sophisticated credit product, and we look forward to seeing the company’s positive impact as more customers gain access to its services.”

Tala successfully scaled its platform in Mexico over the course of 2019 and is poised to continue future growth with the additional financing from Victory Park Capital.

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