Tala raises $145 million to launch crypto products for emerging markets

Fintech platforms are starting to provide cryptocurrency services to their customers.

Fintech platform Tala raises $145 million

Fintech startup Tala said it had raised $145 million in a Series E round. The firm will use the funds to expand its services and launch cryptocurrency products targeting emerging markets. This latest development continues the recent trend of fintech companies launching crypto services.

According to the blog post, lending platform Upstart led the recent funding round, bringing total funding to more than $350 million. The company said,

We’ll use this investment to provide those services and accelerate the rollout of our new financial account experience, which provides fresh new tools to grow, save, and manage your money. We’ll also work to develop one of the first mass-market crypto products for emerging markets to help make crypto solutions more affordable and equitable for those who need them most.

The new participants in the round include the Stellar Development Foundation, Kindred Ventures and the J. Safra Group. Furthermore, returning investors included IVP, Revolution Growth, PayPal Ventures and Lowercase Capital.

Tala partnered with Visa to drive crypto adoption

Tala is not new to the cryptocurrency space. Earlier this year, payment giant Visa partnered with Tala to drive crypto adoption in emerging markets by offering access to USD Coin. The fintech platform now provides access to USDC via its digital wallet, and Visa offered the ability to link payment cards to the wallet.