Nairobi — Customers using Tala, a digital lending platform, have reached over 8 million in four markets: Kenya, India, the Philippines, and Mexico.

In the first six months of this year, the lender said it signed up more than 800,000 new clients, a 114 percent growth from a similar period last year.

"Tala was founded on the belief that simple, easy and affordable access to capital can unlock potential," said Shivani Siroya, founder and CEO of Tala.

"Our success and customer growth has proven this out, with more people using our global platform to manage their daily lives and fund new ideas, businesses and innovations - allowing more people to fully participate in the global economy."

The California-based firm adds that the 8 million take more than $3 million every day, totaling nearly $100 million very month.

"Leveraging AI and a customer-centric approach, the platform maintains a highly loyal customer base which drives business growth --the customer repeat rate is 95% and repayment rates are above 90%," the company added In a statement.

"The Tala platform bridges digital and cash ecosystems to help customers seamlessly manage their financial lives, processing nearly $200 million transactions monthly."

In January, Tala joined a list of other digital credit providers (DCP) to be approved by the Central Bank of Kenya (CBK).

Some of the other DCP whose operations were approved included Inventure Mobile Limited (Trading as Tala), Letshego Kenya Ltd, MFS Technologies Limited, Natal Tech Company Limited, Ngao Credit Limited, and Pezesha Africa Limited.

Others are Sevi Innovation Limited, Tenakata Enterprises Limited, Umoja Fanisi Limited, and Zanifu Limited.

In December 2021, former President Uhuru Kenyatta assented to the Central Bank Amendment Bill, 2021, allowing the CBK to regulate non-deposit-taking credit providers.

It gave CBK the power to suspend any DCP that breaches data confidentiality by pursuing borrowers at high interest rates.