The Rise of Branch: A Story of Growth and Innovation
From Small Beginnings to Series C-Stage Business
Minneapolis-based Branch was founded in 2015 by Atif Siddiqi, a Southern California transplant who had relocated to the Twin Cities to participate in the Target Techstars accelerator program. Little did he know that this move would set him on a path to building one of the fastest-growing companies in the Midwest.
Branch’s Early Days: Focusing on Earned-Wage Access
Initially, Branch focused on providing earned-wage access to contractors and gig workers. This innovative approach aimed to address the age-old problem of delayed payments faced by these individuals. By leveraging technology, Branch created a platform that enabled contractors to receive their earnings faster, often within hours or days.
Growth and Expansion: Over 2,000% Revenue Growth
Under Siddiqi’s leadership, Branch has achieved remarkable growth over the past seven years. The company has secured $75 million in funding from reputable investors like Addition and General Atlantic. This significant investment has enabled Branch to expand its product offerings and build a robust client base, including industry giants like Uber and Walmart.
Key Statistics:
- Over 2,000% revenue growth in the last three years
- $75 million in funding from top-tier investors
- Clients include Uber and Walmart
The Power of Mentorship and Community
Siddiqi’s success can be attributed not only to his vision but also to the support he has received from mentors like Ryan Broshar, a partner at Matchstick Ventures. This network of experienced professionals has played a crucial role in guiding Branch through its growth phase.
The Importance of Building Relationships:
- Mentorship is essential for founders looking to navigate the startup landscape
- Building relationships with investors and industry experts can lead to valuable insights and opportunities
Tips for Founders Outside Coastal Tech Hubs
As a Minneapolis-based entrepreneur, Siddiqi has experienced firsthand the benefits of building a strong community and network. He shares his expertise on how founders outside coastal tech hubs can raise capital, bring in customers, and make an impact:
- Network and build relationships: Establish connections with local investors, entrepreneurs, and industry experts to gain valuable insights and opportunities.
- Focus on solving real-world problems: Identify genuine pain points in your community and create solutions that address these issues. This approach will help you stand out and attract attention from potential customers and investors.
- Be adaptable and resilient: As a founder outside a major tech hub, you’ll face unique challenges. Be prepared to pivot and adjust your strategy as needed to overcome obstacles.
Conclusion: Branch’s Success Story
Branch’s journey is a testament to the power of innovation, perseverance, and community building. As Siddiqi continues to drive growth and expansion, his story serves as inspiration for entrepreneurs across the country. By leveraging technology and creating solutions that address real-world problems, founders can create successful businesses that make a meaningful impact.
Additional Resources
- TechCrunch: Stay up-to-date with the latest news and trends in the tech industry
- Branch’s Website: Learn more about Branch’s products and services
About the Author
Anita Ramaswamy is a reporter at TechCrunch, covering crypto and fintech. Prior to joining TechCrunch, she worked as an investment banking analyst at Wells Fargo Securities. You can reach her via email at anita@techcrunch.com or follow her on Twitter at @anitaramaswamy.
Disclosures
Anita owns small amounts of BTC, ETH, UNI, and YFI for the purpose of learning more about web3 products and technology.
