Branch International, which has more than 3 million users in Kenya, Nigeria, and Tanzania, as well as India and Mexico, uses smartphone data including GPS data, call logs, contact lists, and texts such as bank balance messages and bill payment receipts to determine credit worthiness. In Africa, it makes loans ranging from $2 to $700 for up to 68 weeks, charging interest rates of up to 21% in Nigeria and Tanzania and up to 14% in Kenya. Its model, also used by competitors like Tala (in Nigeria and Tanzania) and OneFi (in Nigeria), is an appealing fit for borrowers in emerging markets where access to credit through traditional banking systems remains a major barrier.

https://qz.com/africa/1589587/africa-fintech-branch-raises-170-million-in-series-c-round/