PayPal-backed lending startup Tala raises $110 million

US-based fintech startup Tala has raised $110 million in Series D funding round led by RPS Ventures. The round saw participation from GGV Capital and existing investors including online payments platform PayPal, among others. Founded by Indian-American entrepreneur Shivani Siroya, Tala lets people in Kenya, the Philippines, Tanzania, Mexico and India take out loans ranging from $10 to $500.