App-Based Lender Branch App Bags $170M In Funding
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App-Based Lender Branch App Bags $170M In Funding

Branch app investment round was led by Foundation Capital and Visa, among others.

App-Based Lender Branch App Bags $170M In Funding

Branch International, a San Francisco-based digital-lending startup which offers in lending loans to people of the developing countries who doesn’t own any bank accounts, has successfully raised $170 million in Series C funding.

Matthew Flannery, CEO and Co-founder of Branch, said,

Branch app funding round was led by Foundation Capital, a venture capital firm and Visa, an American multinational financial services corporation. Other investment partner included Greenspring, B Capital, and Foxhaven.

Charles Moldow, the General Partner at Foundation Capital, said,

The existing backers also participated in the investment round, which includes Andreessen Horowitz, Trinity Ventures, Formation 8, the IFC, CreditEase and Victory Park.
Branch app deploys data science and mobile tech to lend out loans to its customers in the developing countries, and interestingly, the app makes use of the machine learning algorithms to check the client’s smartphone data and calculate the loan amount.

As per the company’s statement, it has a customer base of over 3 million and has processed 13 million loans. With this funding, the Branch app also struck a strategic partnership with Visa.

Tanya <span>Editor In Chief</span>
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She is a content marketer and has more than five years of experience in IoT, blockchain, Web, and mobile development. In all these years, she closely followed the app development, and now she writes about the existing and the upcoming mobile app technologies. Her essence is more like a ballet dancer.

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