Branch Nigeria, a Fintech company that grants between N1,000 and N200,000 loans repayable over a period of 4 weeks to 15 months, will receive an equity investment from TLG Capital, a London-based private equity firm, a source has told BusinessDay.
The operation will be carried out via a Credit Opportunities Fund owned by TLG and focused on companies established in its main operating markets.
Maria Rotilu, CEO of Branch Nigeria, said “Over 800,000 Nigerians have accessed capital via Branch’s Android app to fuel micro-business growth or invest in their family’s wellbeing. We are delighted to partner with TLG to further access capital in Nigeria.”
The initiative represents TLG Capital’s 25th investment in Africa and its 6th in the financial services sector in Nigeria. In June 2018, local media reported that Branch Nigeria had granted more than 100,000 loans, for a total amount of N1 billion.
The company, which began its operations in Nigeria in 2017, is a subsidiary of the American fintech Branch International Inc. also present, on the continent in, Kenya.
