Just a handful of female fintech founders have been able to raise venture financing in the last year. Now, another has beat the odds: Tala founder and CEO Shivani Siroya, who announced yesterday that she had raised $30 million in Series B funding.
The new round will support Tala’s expansion in South Asia and Latin America. Through its app, Tala makes micro-loans of $10-$500 to entrepreneurs in emerging economies. The average loan is for around $50, with an interest rate of 11% and a 30-day repayment rate of over 90%. Roughly one-third of Tala’s borrowers are women.