14 °c
London
Friday, April 23, 2021
No Result
View All Result
FurtherAsia FurtherArabia FurtherBrazil FurtherRussia
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Africa

Financial inclusion: TLG Capital invests in Branch Nigeria

Fabio Scala by Fabio Scala
November 7, 2019
in Africa, Banking, Digital Inclusion, FDI, Financial Inclusion, Fintech, Nigeria, Private Equity
Reading Time: 2 mins read
0
Financial inclusion: TLG Capital invests in Branch Nigeria
Share via QRWhatsappShare on FacebookShare on TwitterLinkedInPinteresteMail

TLG Capital today announced an investment in Branch International Financial Services Limited (“Branch Nigeria”) through its Credit Opportunities Fund (COF).

Branch Nigeria is a fully owned subsidiary of Branch Inc, a (Delaware-registered, San Francisco based) fintech company with operations in Africa (Kenya and Nigeria), the Americas (Mexico) and Asia (India). Branch uses an algorithmic, machine-learning approach via its smartphone app to determine its potential customers’ credit worthiness.

Branch has raised over $200M in debt and equity to drive financial inclusion in emerging markets.  Investors and shareholders include Andreessen Horowitz, Foundation Capital, IFC and Visa. Branch’s strategic partnership with Visa allows the business to offer virtual prepaid debit cards – giving credit to otherwise unbanked customers at local ATMs.

Branch Nigeria is TLG’s twenty fifth investment in Africa, sixth financial services deal in Nigeria and third African microfinance transaction. It is also TLG’s first Naira-funded private investment secured with a USD hedge. TLG’s funds provide Branch Nigeria with the opportunity to further grow its loan book. The average loan size of $22 and tenor of 36 days shows who Branch’s target customers typically are – those traditionally neglected by large financial institutions. TLG was founded with the belief that commercial and social returns can and should go hand in hand, and the Branch business model illustrates this.

Maria Rotilu, CEO of Branch Nigeria, said “Over 800,000 Nigerians have accessed capital via Branch’s Android app to fuel micro-business growth or invest in their family’s wellbeing. We are delighted to partner with TLG to further access to capital in Nigeria”.

 

Matt Flannery, Group CEO at Branch, said “Our mission is to deliver world class financial services for the mobile generation in emerging markets. TLG gets this massive opportunity and has the deep experience, networks & knowhow to be an ideal partner across Africa”.

 

Saad Sheikh, Principal at TLG, said “Branch has a robust approach to lending, tailored to Emerging Markets. It leverages data science and customer insights to drive tech, resulting in high quality customers. We are excited to work with Branch to grow this partnership.”

About Branch Inc.: Branch International Inc. is a FinTech company that uses cutting edge technology to deliver innovative financial products across emerging markets. It is headquartered in San Francisco, USA. Branch combines world class data science, advanced customer insights and lending best practices to provide the most advanced credit solution through a mobile App. It has established wholly owned subsidiaries in Kenya, Nigeria, Mexico and India.https://branch.co/

 About TLG Capital: TLG Capital is an award-winning investment holding company which focuses on private investment opportunities across the capital structure. In a short span of time, the firm has built a reputation for achieving superior commercial returns with a social impact. It has garnered the backing of some of the most prominent and reputable investors in the alternative investments space. www.tlgcapital.com

 

Related

Tags: Andreessen HorowitzAndroid appBranchBranch International Financial ServicesBranch International IncBranch NigeriaCOFCredit Opportunities FundFeatureFinancial InclusionFinancial Inclusion and Economic EmpowermentfintechFoundation CapitalIFCMaria RotiluMatt FlannerymobileNigeriaSaad SheikhTLG Capitalvirtual prepaid debit cardsVisaнигерияنيجيرياナイジェリア尼日利亚
ScanSendShare321Tweet201Share56Pin72Send
Previous Post

Dubai’s GBF Africa 2019 to feature 40 speakers and 26 sessions

Next Post

World Bank analyzes Tanzanian human capital with gloomy eyes

Fabio Scala

Fabio Scala

Fabio Scala is a director at BNI Bank in Mozambique, an institution he helped to create and served from 2010 to 2014. In his interval from BNI, he served in a UK family office for 5 years expanding its equity portfolio in Mozambique, Zimbabwe, Zambia and South Africa. He is also a board member of Uhusiano Capital, a boutique investment firm focused in impact investment projects in Southern Africa. Prior to his African experience, Fabio has worked in the US, Portugal and Brazil where he started his career at Caixa Economica Federal - the country’s largest state bank.

Related Posts

Angola

Angola to cut 20% of diamond production

by Staff
April 23, 2021
e-Commerce

Following Twitter choosing Ghana, Amazon opts for South Africa for its first African office

by Staff
April 23, 2021
Africa

Mozambique: ExxonMobil FID likely to come in 2023 – Fitch Solutions

by Rafael Carvalho
April 23, 2021
Rwanda invites African tech startups to apply for the Smart Cities Innovation Programme 2021
Startup

Rwanda invites African tech startups to apply for the Smart Cities Innovation Programme 2021

by TechGist Africa
April 23, 2021
Angola

How Angola is planning to revive its oil industry, jumpstart economy

by The Exchange
April 23, 2021
Next Post

World Bank analyzes Tanzanian human capital with gloomy eyes

Johnson & Johnson files for European approval of Ebola vaccine

Germany and Mozambique sign implementation agreement of €23.5M

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

2021 AFSIC
2022 Indaba Mining

FurtherAfrica Partners

The Exchange Club of Mozambique Taarifa Rwanda
CrudeMix Africa TechGist Africa Farmers Review Africa
Botswana unplugged Financial Insights Zambia Africa Oil & Power
Harambee Africa Novafrica  

Subscribe to FurtherAfrica

Enter your email address to receive notifications of new articles on your email.

Join 73,051 other subscribers.

FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • OpenTalk
  • Understanding
  • Videos
  • Weekend
  • About

© 2021 FurtherMarkets

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?