BFREE, a credit management platform, has completed a funding round of $2.95 million. The round was led by Capria Ventures, with participation from Angaza Capital, GreenHouse Capital, Launch Africa, Modus Africa, Axian CVC, and angel investors.
Founded in 2020, BFREE uses AI technology to help borrowers manage debt and empower lenders. The company offers risk management solutions to banks and lenders, including credit collection automation and portfolio acquisition services.
With this funding, BFREE plans to expand its suite of services and reach across the African continent. The company has already established partnerships with major commercial banks in Nigeria, Kenya, and Ghana.
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Julian Flosbach, CEO of BFREE, said, “At BFREE, we are focused on addressing the challenges of risk management in African economies. Through the use of AI, we are developing solutions that help distressed borrowers get back on their feet while empowering lenders and contributing to financial market stability across the continent. With the support of our investors, we are poised to make significant strides in transforming risk management for lenders in Africa.”
