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Glovo launches in Mombasa

- September 30, 2019

Spanish delivery firm Glovo, in a bid to expand its geographical reach within Kenya, has officially launched its service in Kenya’s second city, Mombasa. The...

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Financial infrastructure firm, Tala, has launched a tokenized lending platform to cater to borrowers without a banking history in the world. It plans to deploy $50 million credit facility via the platform in USDC to power blockchain-enabled, permission-less lending for millions of global customers. The Artificial Intelligence (AI) underwritten consumer lending tool, in partnership with Huma Finance, is the first of its kind in Kenya and is powered by Solana and supported by USDC liquidity facilitated by the Huma Protocol For billions of consumers who lack access to traditional banking services and credit history systems, tokenized lending offers faster and more reliable access to credit, better rates through a global capital network, and a portable, digital reputation that enables broader participation in the global economy. Tala’s existing customer base of nearly 13 million across multiple emerging markets creates immediate scale for blockchain adoption. "After a decade operating across multiple emerging markets, we know how to translate frontier technologies into real-world financial power," said Shivani Siroya, founder and CEO, Tala. "By pairing Tala’s trusted platform with the power of blockchain technology, together with Huma and Solana, we can expand financial access, eliminate systemic inefficiencies, and help millions become active participants in the global digital economy.” The solution is powered by Tala’s proprietary credit engine, which has been trained on $7 billion in lending performance data across multiple continents. That dataset—largely invisible to banks and most AI systems—gives Tala the ability to evaluate borrowers who have historically been overlooked by the global financial system. By tokenizing these loans in an overcollateralized lending facility and connecting them to Huma’s liquidity pools, Tala unlocks a new funding mechanism for emerging market credit, bringing global capital directly to high-demand markets transparently and efficiently. Speaking during the launch, Erbil Karaman, Co-Founder of Huma Finance, said that Tala’s team has over a decade of experience in scaling high-performance lending programmes while providing financial access to tens of millions of people who need it the most.

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Tag: Glove mombasa

Glovo launches in Mombasa

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