Tala has injected 6.5 billion shillings in an investment funding initiative to help in expanding its services in Kenya.
Tala is a mobile-based lending app that gives micro-loans to individuals for a period of one month.
The company operates in Kenya, Tanzania, and the Philippines and intends to launch operations in India and Mexico.
According to the company, the Series C funding was led by Revolution Growth with other existing investors IVP, Data Collective, Lowercase Capital, Ribbit Capital and Female Founders Fund.
The firm has so far disbursed more than 30 billion shillings to more than 1.3 million consumers in Kenya, Tanzania, and the Philippines. Of the 30 billion shillings disbursed, 28 billion shillings has been borrowed by Kenyans.
The app first kicked off as Mkopo Rahis before changing to Tala and lends out cash from 1,000 shillings to 30,000 shillings to be paid between 21 to 30 days.
The company has 215 employees across Santa Monica in the US, Nairobi, Dar es Salaam, Manila in the Philippines, Mexico City, Mumbai and Bangalore in India.