Erin Renzas, Head of Marketing for Branch International, Matt Flannery, Chief Executive Officer and Co-Founder, and Maria K. Rotilu, Country Manager for Nigeria, at the company's stakeholder meeting, which took place in Lagos over the weekend.
For users of its cutting-edge solutions in Nigeria, Branch International, a young digital financial platform, has arranged loans totaling around N1 billion.
The company, which began operating in the nation's financial technology sector last year, claimed that despite the abundance of Fintech operators, it has successfully distinguished its activities as providers of dependable financial services.
The company claims that Branch has given financial services to the underserved and opened up financial access to customers across the nation thanks to its creative approach to financing.
Additionally, it claimed to offer quick, fair, and flexible loans free from late fees, additional costs, rollover fees, and spending limits.
The business, which has offices in Kenya, Tanzania, India, Mexico, and Nigeria, said that it has more than one million users, has processed six million loans, and has disbursed about $250 million in loans over the course of the last few years across all of its operating nations.
There are over 200 000 users in Nigeria, over 100,000 loans have been made, and the financial app has given out roughly N1 billion to customers.
"I couldn't be more happy to be working in Nigeria with Branch," the Chief Executive Officer, Matthew Flannery, remarked. The startup scene is tremendously vibrant, and the nation is anticipating a FinTech boom.
There is a great need for a product like Branch, as seen by the quick response from our clients. Over the coming ten years, we intend to significantly contribute to improving access to contemporary financial services in Nigeria.
According to Flannery, Branch presents a distinctive pitch to the typical Nigerian by giving consumers access to immediate loans on their mobile devices.
He asserted that Android smartphone owners can obtain loans ranging from N3,000 to N150,000 without the need for in-person meetings, drawn-out application procedures, collateral, or paperwork.
"As Branch customers repay their loans, they gain access to loans with higher sums of money and more flexible conditions. More than 75% of consumers utilize Branch loans to fund the beginning, expansion, or repayment of debt.
"Despite this, Branch does not place any limitations on how its customers can use their loans; they are allowed the freedom to manage their own finances.
In contrast to conventional financial institutions, Branch offers customers the chance to establish credit regardless of their banking past.
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