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Visa backs Branch for mobile-based lending in developing markets

Visa backs Branch for mobile-based lending in developing markets

  • Visa backs Branch for mobile-based lending in developing markets
  • Branch International, a San Francisco-based startup that uses mobile phones to offer loans to people without bank accounts in developing countries, has closed a $170 million Series C funding round led by Foundation Capital and Visa, which is also backing the firm through a strategic partnership.
  • Branch, which claims to be the most downloaded finance app in Africa, was launched in 2015 by Matthew Flannery, who previously founded microfinance outfit Kiva.
  • Says Flannery: "We started Branch in Kenya, where M-Pesa gives anyone with a phone - including the unbanked - access to digital credit.


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