Fintech

Browse the latest news about financial technology and fintech startups in Southern California from dot.LA.

On this episode of the LA Venture podcast, Untapped Capital, Alltruits and Kiva founder Jessica Jackley talks about her experience supporting entrepreneurs across the world, and offers advice to founders on what to do when encountering doubt -- from themselves or others.

"The pursuit of an opportunity, a vision, like an imaginary world that you want to make real. You're running after this thing, you're pursuing it without regard to what you have in front of you," she said. "So there's always going to be something wrong."

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PayPal-backed fintech startup Tala has raised $145 million in a Series E round to expand its financial services in countries in emerging markets and to develop a mass-market crypto product.

The raise was led by lending platform Upstart with participation from the Stellar Development Foundation, bringing the total raised by the Santa Monica-based company to more than $350 million.

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Even as the Latino middle class grows, the wealth gap persists. A typical white family has five times more wealth than Latinos. Suma was founded nine months ago by CEO Beatriz Acevedo with the goal of bridging the Latinos wealth gap.

A seasoned tech entrepreneur who founded Latino-focused entertainment company Mitú, which was acquired last year by GoDigital Media Group owner of Latido Networks for an undisclosed amount. Mitú had raised $52 million, but struggled especially during the pandemic. She also runs her family's California charity, the Acevedo Foundation.

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