How Branch International Helped Nigerians Access $1 Billion in Loans

 

At the company’s stakeholder meeting, which was conducted over the weekend in Lagos, were Head of Marketing for Branch International, Erin Renzas (left); Chief Executive Officer and Co-Founder, Matt Flannery; and Country Manager, Nigeria, Maria K. Rotilu.

 

For Nigerian customers of Branch International’s cutting-edge solutions, the company has arranged loans totaling around N1 billion.

 

The business, which began operating in the nation’s financial technology sector last year, claimed that despite the proliferation of Fintech operators, it had been successful in differentiating its operations as a provider of dependable financial services.

 

The company claims that Branch has opened up financial access for customers across the nation and delivered financial services to the underserved through its creative approach to financing.

 

It added that it offers quick, fair, flexible loans without late fees, additional costs, rollover fees, or restrictions on how much money can be spent.

 

The business, which has offices in Kenya, Tanzania, India, Mexico, and Nigeria, claimed to have more than a million subscribers, process six million loans, and distribute loans totaling around $250 million so far this decade across all of its operating nations.

 

Over 100,000 loans have been given, and over 200 000 individuals in Nigeria have downloaded the financial app.

 

Matthew Flannery, the chief executive officer, said: “I am beyond excited to be working in Nigeria with Branch. The nation is set for a FinTech explosion, and the startup sector is highly vibrant.

 

“Our clients’ quick response demonstrates the great need there is for a solution like Branch. Over the next ten years, we hope to significantly contribute to expanding Nigeria’s access to contemporary financial services.

 

Flannery stated that Branch provides consumers with access to fast loans on their mobile devices, making it a special offer to the average Nigerian.

 

Android smartphone users, according to him, can get loans between N3,000 and N150,000 with no in-person meetings, drawn-out application procedures, collateral, or documentation.

 

“As Branch customers pay back their loans, they have access to loans with higher borrowing capacities and more flexible conditions. More than 75% of consumers utilize Branch loans to establish or expand their businesses or to pay bills.

 

“Despite this, Branch has no limitations on how the loans may be used; users are given the freedom to manage their own finances.

 

Branch offers customers the option to improve their credit independent of their banking past, in contrast to traditional financial institutions.