(Ecofin Agency) - Branch Nigeria, a fintech company that grants loans between 1,000 Naira and 200,000 Naira repayable over a period of 4 weeks to 15 months, will receive an equity investment from TLG Capital, a London-based private equity firm. 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 1 billion Naira.
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.