Mobile lender Branch raises Sh7bn for loans

Banks and fintechs give loans to millions of Kenyans via mobile phones. FILE PHOTO |NMG

Nairobi mobile-based money lender Branch International has raised Sh7 billion in a second round of funding to power its expansion into more countries.

Chief executive Matthew Flannery said part of the funds will launch operations in India as well as expand the product offering to include a savings and payments’ platform in markets where they enjoy one million customer base.

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