Branch International Raises USD 70 Million to Bring World-Class Financial Services to Emerging Markets

Branch International, a mobile "branchless bank" for emerging markets, announces a USD 70 million Series B investment to expand its financial offerings to additional countries. With over a million unique borrowers, Branch is already the top finance app in Africa. Branch offers credit today and plans to diversify into savings and payments in the future.

Within emerging markets, 2 billion people and 200 million small businesses lack access to savings and credit, according to McKinsey. Branch aims to offer world-class financial products across these markets and will use part of its Series B investment to fuel its launch into India. Branch already processes tens of thousands of loans every day in amounts ranging from USD 2.50 to USD 500. The company is growing 20% month-over-month and expects to disburse over USD 250 million in 2018.