Tala, a startup that makes micro-loans to entrepreneurs in the developing world via smartphone app, has raised a $30 million Series B round as it expands into new geographical markets. The round marks the largest Series B raised by a woman founder in recent memory; in 2016, cult beauty brand Glossier raised $24 million. "When you look at emerging markets around the world, only 7% of women small business owners actually get access to capital," founder and CEO Shivani Siroya said. Tala's loans average $50, with an interest rate of 11% and repayment rate of over 90%. With its $30 million Series B, it'll expand further into South Asia and Latin America, with Siroya and her 75-strong team evaluating opportunities in other markets.

Source: Forbes February 22, 2017 19:55 UTC