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This young lending startup just secured $70 million to lend $2 at a time
March 28, 2018
"You don’t hear of many $2 loans in the United States, where $2 won’t buy you more than a chocolate bar. But in cities like Lagos, Nigeria, and Nairobi, Kenya, $2 has the buying power of roughly $40, making such 'micro' loans useful when you’re running..."
IFC to invest Sh309m in mobile phone microlender Branch
December 20, 2017
"Branch, a Facebook-linked mobile phone money lending app, is set to receive an equity investment of Sh309 million from the International Finance Corporation (IFC) to fuel its expansion. IFC, the World Bank’s private financing arm, says the..."
Branch Mobile Lending App Disburses 4 Million Dollars in Loans Monthly
July 28, 2017
"If you have never heard of Branch, pay attention. Branch is a mobile lending app, founded in 2015, that offers loans of up to Ksh. 50,000 through its Android app. The app builds a credit score of the user by analysing their M-Pesa usage and over..."
Tested By Adversity, Fintech Branch Emerges Stronger (And Better At Risk Management)
July 24, 2017
"Branch makes small personal loans to people in sub-Saharan African countries like Kenya, Tanzania, and Nigeria via their Android phones. Applicants download Branch’s app which scours personal data on their phone such as texts, calls..."
Lending Startups Look at Borrowers’ Phone Usage to Assess Creditworthiness
November 30, 2016
"A handful of Silicon Valley-backed startups are looking to revolutionize lending in the developing world, where banks are scarce and many would-be borrowers have no credit history. Their strategy: Show me your smartphone, and my app will find out..."