TLG Capital exits Nigerian investment

TLG Capital yesterday announced its exit from Branch Nigeria, an investment made through its Credit Opportunities Fund (TLG COF).

Branch supports customers traditionally neglected by large financial institutions; its average loan size is $22 and average tenor is 36 days. The company uses an algorithmic, machine-learning approach via its smartphone app to determine potential customers’ creditworthiness. Branch Nigeria is a fully owned subsidiary of Branch Inc, a (Delaware-registered, San Francisco based) fintech company with operations in Africa (Kenya and Nigeria), the Americas (Mexico) and Asia (India).

Premal Shah, chief business officer at Branch said, ”TLG has been an ideal investor. They took time to understand our work, have a wealth of experience working across Africa and were always asking how they might help further. Pioneering new ways to unlock capital access and improve customer value is challenging in any market, including Nigeria. TLG stands out for their energy, humility and acumen – making them a partner we look forward to working with again.”

Saad Sheikh, principal at TLG said, “We are proud to have supported Branch’s vision which has a far-reaching impact: heralding cutting edge technology and user-friendly mobile services to open new channels for personal empowerment and financial growth. We are greatly impressed by their technology which allows customers to bypass hurdles imposed by bricks and mortar financial institutions.”

Reach Africa’s private equity community by publishing a Showcase Article, Job Opportunity or Event on Africa Private Equity News. Contact us at editor@africaprivateequitynews.com for our rate card and more information.