• Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Press Release Distribution
  • Media Releases
  • Technologies
    • Market Reports
    • Technology Events
  • About
  • Contact

3V.org, the essence of public relations

PR agency servicing startup companies and venture capital firms

Branch International, developer of the most downloaded finance app in Africa, raises $170M Series C Financing

April 8, 2019 By admin

Branch, the most downloaded finance app in Africa, announced a new global partnership and investment from Visa (NYSE: V). The two companies share a vision of bringing financial access to billions of people still unreached by banks. Visa’s investment in Branch will help expand financial access across the African continent, while fueling new expansion in India and Latin America.

Branch and Visa will team up to offer virtual prepaid debit card numbers to customers around the world. This enables unbanked Branch customers the option to receive credit at any physical ATM, bypassing the need for a bank account.

“We started Branch in Kenya, where M-Pesa gives anyone with a phone — including the unbanked — access to digital credit. Unfortunately, mobile money isn’t available in most countries. With the help of Visa, now we can send cash to any ATM and reach the underserved around the planet,” says Matthew Flannery, CEO and co-founder of Branch.

Traditional barriers such as a credit score and bank account make financial accessibility a challenge for over 2 billion people in the world. Yet many in underserved markets have a financial tool right in their pocket — their mobile phone. By tapping into the rise of mobile technology worldwide, Branch aims to radically expand financial access, making full global inclusion a reality in our lifetime.

“At Visa, we believe financial empowerment is an essential passport out of poverty,” said Bill Sheedy, Executive Vice President of Strategy at Visa. “Our partnership with Branch provides Visa a key distribution mechanism to reach people that were previously out of reach and help shape the future of microfinance.”

Today, Branch is also announcing the close of its Series C financing, a $170M round led by Foundation Capital and Visa. And joining this round of investment are existing investors, Andreessen Horowitz, Trinity Ventures, Formation 8, the IFC, CreditEase, and Victory Park as well as new investors, Greenspring, Foxhaven, and B Capital.

“I’ve known the Branch team since right after the company was founded,” said Charles Moldow of Foundation Capital, who will be joining the Branch Board of Directors. “After tracking them for years, it has become clear to me that emerging markets are one of the biggest growth areas for fintech. Our history of successful fintech investments is evidence that we know how to spot true innovators, like Branch. The team has executed incredibly well and is poised to become the cross-border financial super-app.”

ABOUT BRANCH INTERNATIONAL
Founded in 2015, Branch delivers world-class financial services to the mobile generation. With offices in San Francisco, Lagos, Mexico City, Mumbai and Nairobi, Branch is a global, socially conscious company that uses the power of data science and mobile technology to reduce the barriers of delivering financial services in emerging markets. With over 3 million customers and 13 million loans processed, Branch International has disbursed over $350 million. In addition to credit, Branch intends to roll-out to high-yield savings accounts to customers this year. Learn more at https://branch.co/

Related

Filed Under: PR

Reader Interactions

Primary Sidebar

Featured Market Research

  • Software Defined Digital Camera Market Forecast
  • Multiple Lens Digital Camera Market Scenario
  • Smart City Technologies, Market Analysis Datasets
  • Impact of Pixel Shift Technology on Digital Camera Market
  • Electric Vehicle (EV) Market Analysis: BEV Versus Fuel Cell
  • Fast Network Interface Cards (FastNICs), Market Analysis
  • Nuclear Fission Infrastructure, Market Analysis
  • Fuel Cell Powered Marine Propulsion, Market Analysis
  • CO2 to Liquid Fuel, Market Analysis
  • KV (Key Value) Storage Device Market is Here, Almost
  • The Addressable Telepresence Robotics Market Analysis
  • RISC-V and Open POWER Instruction Set Architecture (ISA) Fortunes are Rising, Market Analysis
  • Digital Camera Market Skydiving, Market Analysis
  • Smartphone As an Universal Personal Computing Platform, Market Scenario
  • Deception Cybersecurity Market Forecast
  • Machine Vision Market Undergoing Revolution
  • DevOps & Microservice Ecosystem Market Forecast
  • U.S. Federal Cybersecurity Market Forecast
  • Quantum Computing Market Forecast
  • Modernization of U.S. Federal Government IT, Market Scenario
  • Face Recognition Technology Moves to the Edge
  • Electromagnetic Railgun Market Forecast
  • Virtual Event Market Forecast
  • Digital Camera Market is Going Through Interesting Times
  • Saudi Arabia Mass Surveillance Market Forecast
  • Worldwide High Performance Computing (HPC) Market Forecast
  • U.S. Military Unmanned Aerial Vehicles (UAV) Market Forecast
  • Ultracapacitor Market Forecast
  • U.S. Federal Government Mass Media Market Forecast

Email Subscription

Enter your email address to subscribe and receive notifications of new posts by email.

Footer

Popular Posts

  • Domain Market 2019
  • Harlem Capital, a diversity-focused venture capital firm, Closes $40Mln Fund
  • Hippo Insurance Raises $100 Million in Series D Funding Round: Home Insurance Leader Has Raised $209 Million in Total Funding to Fuel Expansion
  • TouchBistro Raises $158 Million in Series E Funding, Funds will be used for acquisitions, global expansion, and to increase headcount
  • Theatro Closes $20 Million Series C Funding to Accelerate the Growth of its Enterprise Mobile Platform

Media Channels

  • Technologies
  • Opinion
  • Editorials
  • Technology Conferences
  • ESN, event sharing network
  • Exclusive
  • Event Calendar
  • Cyber Security Market
  • Defense Market Market

Technical Support

  • Prints
  • Photo Gallery
  • Press Media Release

A Bill of Rights for Users of the Social Web | Copyright © 2018 3V.org