Personal Finance app ‘Branch’ garners 2 million downloads in India
The app’s surging popularity is such that a large number of graduates and young salaried employees in India are choosing Branch app as the preferred destination to secure loans.
Leading personal finance app Branch on Tuesday said it is now available in Hindi to serve more than half a billion consumers in the country.
With over 23 million downloads, 4 million customers and 20 million loans processed, Branch International has disbursed over $600 million to date.
The company said in a statement that the Hindi version of the app will address Tier 2 and 3 cities in the overall lending and banking space.
Advertisement
“Our deliberate effort to launch our app in Hindi will help a majority of Hindi-speaking consumers have a better, less-daunting experience and, most importantly, gain access to capital,” said Sucheta Mahapatra, Managing Director, Branch.
“At Branch, we solve for the financial needs of the average Indian consumer. Language becomes a barrier for users to access funds in this digital-first economy,” she added.
Branch will use the insights from its Hindi app to expand its services to multiple other vernacular languages in the coming quarters.
“The majority of this Hindi-speaking audience is non-salaried, non-Tier-1 and not served thoroughly by the existing market solutions,” the company said.
Founded in 2015, Branch has offices in San Francisco, Lagos, Nairobi, Mumbai and Bengaluru,
In addition to credit, the company said it aims to roll out high-yield savings accounts, wallets and investments to customers this year.
Advertisement
