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Author Topic: [2016-04-01]Branch International raises $9.2 million  (Read 199 times)
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April 01, 2016, 03:04:55 PM
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Branch International raises $9.2 million to bring its mobile banking app to Africa

Branch International is bringing digital financial services to mobile users in an intriguing location.

The San Francisco-based company also known as Branch.co, has raised $9.2 million in a Series A round of funding to bring its services to Sub-Saharan Africa, reports TechCrunch.

Branch's free Android app is a "branchless bank for teh next generation," according to founder and CEO Matt Flannery. The app asks users to let it access and analyze data stored on their phones, such as their monthly phone bill price or who they call most frequently.

http://www.businessinsider.com/branch-international-raises-92-million-to-bring-its-mobile-banking-app-to-africa-2016-3?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+clusterstock+%28ClusterStock%29
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April 01, 2016, 03:41:06 PM
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" Branch learns and anticipates who would most likely be a solid borrower and can then offer a credit line of anywhere from $2.50 to $500 in approximately 10 seconds. The app does not ask users for a credit history as they would need to get a credit card through a traditional bank. "

It is this kind of reckless borrowing that has us, where we are now... Do we need more automated systems spamming our phones with requests for loans? I can think of a lot of other better projects to

spend $9.2 million on.  Roll Eyes

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