Founded in 2015 by Kiva co-founder Matt Flannery, Branch International operates a "branchless bank" mobile app that extends loans as small as $2 and as large as $1,000 to users in countries such as Kenya, Nigeria, and soon India. The app analyzes SMS messages and other phone data (e.g., bank balance alerts and utility payment receipts) to generate real-time credit scores, enabling instant disbursement without physical infrastructure. Since launch the app has been downloaded on more than one million phones in Sub-Saharan Africa, and new customers borrow an average of 20 times in their first year. Branch charges a flat 15% interest rate and has avoided overdraft fees, prioritizing repeat usage over immediate profitability on its smallest loans. The company was already profitable prior to its latest fundraise and reports 20% month-over-month loan-book growth. Headquartered in San Francisco with 100 employees spread across San Francisco, Lagos, and Nairobi, Branch plans to introduce mobile savings accounts as its next product once regulatory approvals are secured. Management views expanding financial services in under-banked regions as a multi-billion-dollar opportunity.

Total raised

$251M

Funding rounds

5

Latest round

Series C

Latest activity

Apr 2019