The popular financial app partners with Barium Capital for its fourth commercial paper issuance
Branch International, one of Kenya’s top digital financial services providers and Africa’s most popular financial app, is announcing full repayment of a KShs 500M commercial paper and the issuance of a fourth note of an equivalent amount. This latest funding brings the total capital raised locally by the financial services firm since its first issuance in 2017 to more than KES 1.5 billion. All commercial paper issuances have been arranged by the Centum-owned advisory firm, Barium Capital. This latest investment will be used to continue to expand Branch’s services in Kenya.
This capital supplements the KShs 17 billion raised earlier this year from top international investors, including the World Bank Group’s International Finance Corporation, Visa, Foundation Capital, Trinity Ventures and Andreessen Horowitz.
Since launching in 2015, Branch has established itself as a key player in Kenya’s digital lending space. Branch issues tens of thousands of loans per day and has disbursed more than KShs 30 billion in Kenya. According to customer surveys, over 60% of Branch loans are used for small business start-up …read more