Tala (formerly known as InVenture) is expanding into Nigeria. The world leader in the provision of direct loans and financial services in emerging markets has, hitherto, been present in Eastern Africa, South Africa and India.
Founded in 2011 by Indian American CEO and founder, Shivani Siroya, Tala aims to close the credit gap in emerging markets by using mobile data to overcome traditional barriers to financial access.
Tala collects thousands of data points per customer to build financial identities, dynamically price risk and disburse loans in less than a minute.
In 2014, the software’s first year, Tala accepted 50% of applicants, for a total of more than 6,000 loans. Most were between $20 and $100, with no fees and just 5% interest. The repayment rate was 85%, and more than 75% of applicants returned for a repeat loan.
The idea for Tala came during Siroya’s years working on emerging markets and microfinance at investment banks, the UN, and UNICEF. According to her, she observed that in Eastern Africa, India, and South Africa, 2.5 billion people have no credit score. Also because many banks won’t help these data-free borrowers, loan sharks had free rein. “I just wanted to solve this problem,” she says.
So if you are ready to assist in Siroya’s mission, you can join Tala in Nigeria.
Tala is currently recruiting for the Country Manager in Nigeria. Based in Abuja, the Manager should be a strongly experienced consumer financial services professional confident to lead the expansion of the company’s business in Nigeria.
If you are interested, apply here.
