How Stellar’s $40M Investment In Tala Will Give Millions Access To Financial Services

The Stellar Development Foundation (SDF) has made a fresh bet on the financial services sector. According to a press release, the institution participated in a $145 million series E for Tala. A global technology company working on providing millions of people with access to lend, borrow, and other financial services Tala reached an over $350 million funding with support from the SDF and its Enterprise Fund, Upstart, and others. Related Reading | Stellar Network To Power New Savings API Launched By Wyre Launch in 2020, the SDF’s Enterprise Fund provides support, in U.S. dollar or XLM, to payments companies with a cross-border approach, companies that provide financial inclusions in emerging markets, access to tokenized assets, and other criteria. The fund was launch with the objective of investing in companies capable of bringing real world use case and contribute with the Stellar ecosystem. Tala will use the funds to create a crypto product to attract mass adoption especially oriented to developing countries. In these countries, over 3 billion people lack options to participate in the global financial sector. Thus, Tala will leverage cryptocurrencies, mobile technology, and data science to provide people with tools to increment their wealth and achieve economic independence. Related Reading | Stellar To Introduce AMM Functionality, What This Means For Its Ecosystem Denelle Dixon, CEO and Executive Director for the St...