Branch, a mobile lending app for the emerging markets with a wide presence in Kenya has announced a US$5 million to expand its financial offerings across Kenya.
The firm has raised the current funding through a fourth commercial paper arranged by Barium Capital. This comes after repaying its third commercial paper.
According to Branch’s East Africa General Manager Dan Karuga, the company is uniquely positioned to leverage its advanced use of data science to underwrite and provide credit and other financial services to more customers than ever before.
The FinTech firm has also welcomed the government of Kenya regulation of the sector.
This capital supplements the US$170 million Series C raised earlier this year from several investors, including the International Finance Corporation, Visa, Foundation Capital, Trinity Ventures and Andreessen Horowitz.