- The San Francisco-based startup Branch International, which makes small personal loans in emerging markets, has raised $170 million and announced a partnership with Visa to offer virtual, pre-paid debit cards to Branch client networks in Africa, South-Asia and Latin America.
- The $170 million round from Foundation Capital and its new debit card partner, Visa, will support Branch's international expansion, which could include Brazil and Indonesia, according to Flannery.
- The Branch-Visa partnership will allow individuals to obtain virtual Visa accounts with which to create accounts on Branch's app.
- In addition to Visa and Foundation Capital, the $170 Series C round included participation from Branch's existing investors Andreessen Horowitz, Trinity Ventures, Formation 8, the IFC, CreditEase and Victory Park, while adding new investors Greenspring, Foxhaven and B Capital.
Partnering with Visa, emerging market lender Branch International raises $170 million
8 April 2019 1:14 PM GMT