Branch (IFC-40402)

Regions
  • World
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jan 17, 2018
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Branch International Inc
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 3.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Aug 5, 2018

Disclosed by Bank Dec 15, 2017


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Project Description

Branch is a mobile lender providing personal unsecured microloans in Kenya, Tanzania and Nigeria. Branch uses technology to dramatically reduce the cost of delivering financial services in emerging markets. IFC is considering an equity investment in Branch, which will be used to finance the Company’s continued growth.

Investment Description
  • International Finance Corporation (IFC)

Branch is raising Series B equity to finance its continued expansion. The proposed IFC investment is for up to US$3 million in equity.

Private Actors

Branch was co-founded by its current Chief Executive Officer, Matthew Flannery, Chief Operating Officer, Daniel Jung, and Chief Technology Officer, Random Bares. The Company’s investors include Andreessen Horowitz, Formation 8 and Khosla Impact Fund.

Contact Information

International Finance Corporation
Takao Takahashi
Investment Officer
202-458-8019
TTakahashi@ifc.org
2121 Pennsylvania Ave. NW, Washington, DC 20433
www.ifc.org

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/