#68: Branch - From Kiva to providing consumer loans and FinTech services across Africa and other developing markets

Overview: Today, we’re going to talk about Branch, the FinTech lending company and Neobank. We’ll explore the story across the following 5 areas:

African lending & consumer credit

Branch's founding early history

Product & monetization strategy

Competitive positioning & potential exit options

Overall outlook

This episode was recorded on Sep 10, 2023

Companies discussed: Branch, Kiva, Kuda Bank, Chipper Cash, Earnin, Paga, FairMoney, MFS Africa, GTBank, Access Bank, Ecobank, PalmPay, Carbon, PiggyVest, Upstart, Tala, Visa, Mastercard & Safaricom

Business concepts discussed: Smartphone credit assessment, Consumer lending, neobank strategy, Personal Finance OS, unbanked population, smartphone credit assessment & Pan-African Banking

Conversation highlights:

(01:00) - What Branch is and why we’re talking about it

(07:40) - Africa consumer credit context and background

(19:17) - Branch International founding

(23:31) - Founders’ background

(39:12) - Fundraising and Growth

(51:40) - Geographical expansion

(1:02:01) - Acquisitions and Team overview

(01:15:14) - Product strategy

(1:33:20) - Monetization strategy and Costs

(1:41:58) - Competition and options for exit

(1:57:08) - Bankole’s overall thoughts

(2:10:59) - Olumide’s overall thoughts

(2:30:20) - Recommendations and small wins

Olumide’s recommendations & small wins:

Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected]

Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

Recommendation: Eminem - Rap God (OMFG I’m 12 years late, my mind exploded. WOW!)

Recommendation: Can’t Hurt Me (David Goggins). Incredible book about challenges David went to from parental abuse, racism to make something of himself. I went through waves of intense emotions while reading the book. At some points, I was crying in pain with David and other times I was in pure shock about what I was listening to.

Small win: Hosted FIREDOM book launch event in London. Amazing conversations about life, managing money and growth. Dope shit.

Bankole’s recommendations & small wins:

Recommendation: American Prometheus by Kai Bird, A/B Testing with Fat Tails & Remember Me - Fireboy DML

Small win: Chin-chin from a recent trip to Lagos

Other content: Mobile overdraft facility Fuliza outshines Silicon Valley-backed lending apps in Kenya- TechCrunch & Inside Branch’s 20 percent interest investment push to beat Nigerian bank offerings - TechCabal

Listeners: We’d love to hear from you. Email [email protected] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [email protected]

Investors: It would be great to link up with you. Contact us at [email protected]

Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com