Digital lender Tala has disbursed Sh300 billion to its customers in Kenya over the last ten years rivaling major lenders in the country.
With an estimated customer base of 3.5 million, the lender has loaned an average of Sh85,714 for every customer.
In its 2023 Tala Impact Report, the firm disbursed between Sh10 billion and Sh15 billion in the country each month.
To grow its base, Tala has announced that it aims to diversify into new markets through acquisitions of financial technology startups in Kenya and across East Africa.
The Nairobi-based firm, which also operates in Mexico, the Philippines and India, is looking to ride on fresh capital injection to expand access to cheaper loans and launch new products.
Tala Kenya general manager Annstella Mumbi said the lender, plans to partner with other financial institutions to expand access to credit for Kenyans.
“Moving into the next decade, we will be moving to a second phase of the industry, thinking beyond access and into the ability of the industry and Tala to offer more customer-centric solutions,” said Mumbi.
“With our in-depth understanding of the mass market customer, and our data science capabilities, we are increasing our focus on partnerships and being an ecosystem enabler. We are not your competitor but your enabler in opening up access to credit.”
Tala global chief business officer, Jori Pearsall, said the lender targets underserved segments historically excluded from traditional finance.
“With our in-depth understanding of the mass market customer, and our data science capabilities, we are increasing our focus on partnerships and being an ecosystem enabler,” Pearsall said
Going forward, the global Fintech company has announced plans to go after the $10 trillion global fintech market, defining it as the global majority population which represents 52 per cent of the world’s population.
In the second phase of its operations, Tala will target this population that has historically been excluded by legacy finance institutions.
Pearsall says that located primarily in emerging markets, they earn money in both the formal and informal economies but often don’t have access to savings, credit, bill payment tools or the ability to affordably transfer money.
“The Global Majority have immense potential, and we’ve witnessed their power. Tala proves that the old barriers can be overcome with innovative solutions, creativity, and radical trust” said Jori as he detailed Tala’s 10-year journey.
