This US fintech offers loans to first-time borrowers in India
17 March 2019 6:30 PM GMT
Branch offers customers personal loans ranging 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) mobile-only non-banking financial company (NBFC) licence in India.
- San Francisco-based startup Branch International, a mobile app -based lender with operations in Africa and Latin America, launched its operations in India this month.
- Proving to be a truly global company, Branch has since expanded into Latin America, specifically Mexico, before launching 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.
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