Smartphone App-based Startup Branch Set To Operate In India
Expansion of Branch?s personal loan offering to India to provide financial access to the underbanked with its mobile lending app, , branch;
- San Francisco-based startup Branch International, a mobile app-based lender with operations in Africa and Latin America, launched in India this month.
- Branch offers customers personal loans from Rs 500 to Rs 50,000 through its Android app and is one of the first recipients of the Reserve Bank of India’s (RBI’s) mobile-only Non-Banking Financial Company (NBFC) license in India.
- By relying solely on the data from a user’s mobile device, Branch is able to tap into an underserved market, including those who are self-employed or part of the informal sector, yet very creditworthy.
- ” said Matt Flannery, Co-Founder and CEO of Branch International and Co-Founder of Kiva.