Founder: Shivani Siroya (CEO)Launched: 2014Headquarters: Santa Monica, California Funding: $362.1 millionValuation: $800 million (PitchBook) Key technologies: Machine learning Industry: FintechPrevious appearances on Disruptor 50 List: 2 (No. 20 in 2021)
Fintech start-up Tala is continuing its mission to improve the financial health of underserved and underbanked populations.
Founded in 2011 by Shivani Siroya, the Santa Monica-based company uses its mobile platform to provide access to loans ranging from $10 to $500 to people in India, Mexico, the Philippines, and India. Using its Android app to create a credit profile for a user by looking at their texts, merchant transactions and other behavioral data to create a risk profile, Tala looks to approve loans within minutes compared to legacy banks or online lenders, who often rely on a credit score or a financial history check to determine eligibility.
In October, Tala closed a $145 million Series E funding round to further expand its borrowing, savings and money management options. At that time, Tala said it had lent more than $2.7 billion to more than six million people.
The company has raised more than $350 million in venture funding from investors including PayPal Ventures, GV, and Revolution Growth.
See the full list of 2022 Disruptor 50 companies
Silicon Valley supply chain fixer Flexport tops the 2022 CNBC Disruptor 50 list
How we chose the Disruptor 50 companies
The Oculus VR headset creator joins the military
The company hoping to beat Warren Buffett's bet on dialysis
A $40 billion presentation
A very tall French warehouse robot coming for the jobs we can't reach
How America's towns and cities are getting a climate retrofit
«From the very beginning we've been very
Read more on cnbc.com