Branch App: We disbursed N9bn quick loan in 2 years
Branch App says it had been able to disburse quick loan worth N9bn in 2 years of its existence and to that extent facilitated financial inclusion in Nigeria.
According to a statement issued by the quick loan company, “Branch was first launched in 2015 and became available for Nigerians in 2017. Over the last two years, the app has seen incredible growth in Nigeria.
“Branch now has over 1.2 million users in Nigeria. The growth rate is incredible and it testifies to the usefulness and demand for its service.
“Now, the company has disbursed over one million loans worth over N9bn in Nigeria alone. That N9bn has helped individuals, families and businesses make meaningful progress, particularly in the informal economy.”
According to the statement, Branch is an instant quick loan app that uses data science to dramatically increase access to financial services for millions of Nigerians.
It stated that the app provided quick loans that helped people achieve their business and personal needs.
“But more importantly, Branch helps to provide loans that are crucial for the growth of small businesses,” it stated.
The firm said customers could instantly borrow a quick loan they needed without ever going to a physical office to make a request.
It explained that all their quick loans were approved, disbursed and repaid directly from the app.
“Branch has seen unprecedented global growth, now operating in Nigeria, Kenya, Mexico and India. Users in these countries have downloaded the app over five million times. Also, Branch has now processed over 14 million loans worth over $350m across these countries. Thanks to its sterling records, Branch has received over $250m investments since 2015. Most recently in April 2019, the company announced a $170m funding.”
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