Visa backs Branch for mobile-based lending in developing markets
8 April 2019 8:14 AM GMT
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.
- 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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