Tala raises $65 million to move into Mexico and India; Hyperloop lands deal for first commercial Hyperloop system in United Arab Emirates; j2 Global acquires ThreatTrack, Lifescript
Santa Monica-based Tala, an app that underwrites loans for people without strong credit history, announced a $50 million Series C equity investment led by Revolution Growth, the Financial Times reports. The company also announced a separate $15 million investment for its loan book, bringing Tala’s total fundraising to date over $105 million. As part of the deal, Steve Murray, managing partner at Revolution Growth, will join Tala’s board of directors. Tala said it will use the money to move into Mexico and India. Tala already operates in Kenya, Tanzania and the Philippines, where it has delivered credit to more than 1.3 million customers and originated more than $300 million in loans.
Hyperloop Transportation Technologies (HyperloopTT), based in Playa Vista, announced a deal with Alda Properties PJSC, a real estate developer in Abu Dhabi, to build the world’s first commercial hyperloop system, CNBC reports. The transportation network will connect Abu Dhabi and Dubai and span 10 kilometers and the goal is for it to be operational by 2020.
Los Angeles-based j2 Global, a provider of internet services and online media, has acquired ThreatTrack, a provider of security-focused cloud services, and certain assets of Lifescript, a provider of digital media in the health area, Socaltech reports. Financial details were not disclosed. j2 Global has a track record of buying small companies and already owns PCMag, IGN, AskMen, Speedtest, Offers, ExtremeTech, Geek, Toolbox, Techbargains, emedia, Salesify and Everyday Health.
Technology reporter Eli Horowitz can be reached at firstname.lastname@example.org. Follow him on Twitter @coachhorowitz13 for the latest in L.A. tech news.
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