Friday, April 12, 2024 UTC

Recognized by industry leaders for extensive coverage on African Asset Management

News > Private Equity > Deals

Capria Ventures Leads $2.95m Investment Round in BFREE

Anna Lyudvig
Feb. 29, 2024, 10:34 a.m.
1187

Word count: 468

Capria Ventures, a Global South specialist investing in applied Generative AI, has led a $2.95 investment round in BFREE, Africa’s ethical credit manager platform.

Choose ONE Magazine and TWO Articles for FREE when you register an account
Share:

Capria Ventures, a Global South specialist investing in applied Generative AI, has led a $2.95 investment round in BFREE, Africa’s ethical credit manager platform.

Susana García-Robles, Managing Partner at Capria Ventures, said: “The advent of Generative AI provides a pathway for more efficient scaling, enabling the company to expand across the continent at a reduced cost.” 

“BFREE is well-positioned to play a crucial role in improving accessibility and mitigating risk in financial services. We foresee the growing prominence of credit management and are confident that BFREE will spearhead the creation of a secondary market on the continent for distressed assets. BFREE has secured significant partnerships with top-tier banks and fintechs, affirming the effectiveness of its product and reinforcing our belief in its potential to transform credit collection in Africa."

Other investors in the round included Angaza Capital, GreenHouse Capital, Launch Africa, Modus Africa, Axian CVC, and angel investors.

The infusion of capital from this funding round will empower BFREE to significantly enhance its suite of risk management solutions customized for banks and lenders.

Olivier Munyeshyaka of Angaza Capital, commented: “At Angaza Capital, we recognize the immense potential of African markets, and we’re excited to partner with BFREE as they embark on their expansion across the continent.” 

“Having navigated the complexities of collections firsthand, we’re impressed by BFREE’s commitment to leveraging technology to address these challenges.Together, we’re poised to drive impactful change and unlock new opportunities across Africa.”

Founded in 2020 by Julian Flosbach, Chukwudi Enyi, and Moses Nmor, BFREE is dedicated to reshaping the credit collection landscape across emerging markets in Africa. 

Leveraging cutting-edge AI technology, BFREE aims to empower consumers to address debt responsibly while providing effective, customer-centric solutions for lenders.

While originally founded with a primary focus on credit collection automation software, BFREE has since evolved its approach. At present, the company harnesses extensive datasets on non-performing loan portfolios to expertly evaluate and structure portfolio acquisitions in collaboration with third-party investors.

These investors include alternative asset managers and hedge funds seeking to capitalize on emerging markets’ credit portfolios as a new asset class.

BFREE has achieved significant growth since its founding in 2020, serving 4.5 million borrowers across Nigeria, Kenya, and Ghana. 

The company has established strategic partnerships with major commercial banks, underscoring its role in client development within the region.

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,” he added.

Registration Login
Sign in with social account
or
Lost your Password?
Registration Login
Sign in with social account
or
Registration Login
Registration