Tala expands operations in Latin America

Digital lending firm, Tala has rolled out it’s services in Guatemala as it expands operations in Latin America.

Guatemala becomes the second country in the region where the digital credit provider has presence as it targets to enter the Dominican Republic and Panama by the end of the year.

Tala says the expansion has been driven by the need to address credit access gap in Latin America.

In Mexico, the company has provided 20 million loans to nearly four million customers over the past eight years, making it Tala’s fastest-growing market.

“Through our experience serving the Mexican market, we have developed deep insights in the region and found that existing services still don’t serve the majority of the population,” said Annstella Mumbi, General Manager, TalaKenya

“We have the technology and products to change that,” she added.

To date, Tala has served over 12 million customers, with two million customers added this year, and disbursed about $7 billion in credit.

Guatemala becomes it’s fifth market after Kenya, India, Philippines and Mexico.