Fintech firm to give ₦4 billion loans to customers
A Nigerian financial technology firm, Branch International, says it plans to disburse ₦4 billion worth of loans to its customers before the end of the year.
The Chief Executive Officer, Branch International, Matthew Flannery, said during a stakeholders’ meeting on Thursday that despite the proliferation of Fintech firms in Nigeria, the company had distinguished itself as a provider of world-class financial services during its first year of operation.
He explained that the firm planned to generate over half a million loan beneficiaries, invest in its Lagos office and double the number of its employees before the end of the year.
He added that through an innovative approach to lending, Branch had unlocked financial access to customers around the country.
“I couldn’t be more thrilled to be working in Nigeria with Branch. The start-up community is incredibly dynamic, and the country is poised for a Fintech explosion. The early response from our customers shows that there is a massive need for a product like Branch. We hope to play a significant role in increasing access to modern financial services in Nigeria over the next decade,” he said
According to Flannery, Branch offers a unique proposition to average Nigerians by providing users with access to instant loans on their mobile devices.
He stated that users could receive loans from ₦3,000 to ₦150,000 without a face-to-face meeting, lengthy application process, collateral or paperwork.
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