startups

San Francisco based lending startup Branch International set to open operations in India – ETtech.com


San Francisco based lending startup Branch International set to open operations in India San Francisco based digital lending startup Branch International has opened operations in India this month. The company currently operates in Africa and Latin America.

Branch International already has a non-banking finance company licence from the Reserve Bank of India and intends to start offering personal loans in the range of Rs 500 to 50,000.

Globally the company has witnessed three times growth annually and has managed to attract leading Silicon Valley based investment firms like Andreessen Horowitz and Trinity Ventures to invest over $80 million, enabling Branch to expand its financial offerings to more countries.

Bypassing any requirements for CIBIL score, bank account statements and others, Branch enables consumers to access personal loans on the basis of data collected from the user’s mobile device. The company is aiming to utilise its technology platform to extend credit to even the self-employed sector, who are extremely credit worthy but mostly get left out by the formal banking channels.

“I believe there is a large untapped opportunity in India’s digital lending space with its growing tech-savvy population that is strongly backed by the government’s financial transformation policies and digital drive,” said Matt Flannery, chief executive officer, Branch International. “We hope to build a fair, secure and robust digital lending ecosystem in India through our world-class financial offerings.”



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