Tala, a financial services company that serves underbanked regions around the world, made some news when founder and CEO Shivani Siroya announce it had reached $300 million in annualized recurring revenue. The company makes money largely by charging fees to people receiving loans through the platform.
Moving capital across borders and working across multiple currencies has also been a growing opportunity for fintech startups. Brex, the financial services company for businesses, uses more than 60 currencies and is present in more than 100 countries, chief operating officer Camilla Matias said.
John MacIlwaine from Highnote described how digital currencies and stablecoins could help his customers transfer money from overseas to US bank accounts without getting tripped up by wire services, which are closed when banks are closed.
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