Wednesday, July 23, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Fintech

BFREE, a Nigerian fintech startup, has raised $1.7 million in a pre-Series A funding round

Tech Gist Africa by Tech Gist Africa
01/10/2022
in Fintech, Funding, News - West Africa, Startups, Venture Capital
0 0
0
BFREE Nigeria Fintech

BFREE Nigeria Fintech

0
SHARES
Share on FacebookShare on Twitter

BFREE, a Nigerian credit management fintech startup, has raised a pre-Series A fundraising round of US$1.7 million and reinforced its management team in preparation for worldwide development.

After raising an early US$800,000 in May, BFREE has now obtained a US$1.7 million pre-Series A investment led by 4Di Capital, Octerra Capital, VestedWorld, Voltron Capital, Logos Ventures, and many undisclosed angel investors.

Chukwudi Enyi, Moses Nmor, and Julian Flosbach founded BFREE in August 2020 to provide ethical digital-first credit collection solutions to financial institutions in emerging markets.

“Interest rates on retail loans remain extremely high in emerging nations, owing mostly to high default rates and a lack of infrastructure. We can reduce default rates with BFREE’s collection solution, which will result in a long-term reduction in the borrower’s cost of capital,” said Flosach, BFREE’s chief executive officer (CEO).

4Di Capital’s Anton van Vlaanderen stated that BFREE was his firm’s first investment in Nigeria.

“The company has achieved tremendous traction in such a short period of time, demonstrating the enormous opportunities in the credit management industry in emerging economies. We are now optimistic about their aspirations to expand into markets like India, Brazil, and Egypt,” he added.

After 16 months in operation, the startup currently administers collections for over 30 digital lenders, microfinance institutions, and commercial banks in Nigeria and Kenya.

BFREE will use the additional capital to expand globally and considerably boost its management team.

Read more on Tech Gist Africa:

BFREE, a Nigerian fintech startup, has raised a seed round to tackle Africa’s mounting consumer debt

Alvin, a Kenyan money manager startup secures $740,000 in pre-seed funding

JABU, a Namibian e-commerce startup, raises $3.2 million in a seed round

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

telecommunications
Mobile networks

Cameroon Fines MTN and Orange $4.6 Million for Poor Service Delivery

by Tech Gist Africa
07/11/2025
0

Cameroon’s telecom regulator has issued fines totaling approximately 2.6 billion CFA francs (around US $4.6 million) to MTN Cameroon and Orange...

Read more
Cerebrium South Africa

Cerebrium, a South African AI startup raises $8.5 million seed funding

07/11/2025
BuuPass QuickBus Kenya

BuuPass, a Kenyan mobility startup has secured strategic funding from Yango Ventures

07/10/2025
Complete Farmer Ghana

Complete Farmer, a Ghana-based agritech company Raises $2.5 Million

07/09/2025
Wave Senegal

Wave, a Senegal‑based fintech startup has secured a $137 million debt financing facility

07/09/2025
Next Post
Microsoft Xbox One

Microsoft has discontinued production of Xbox One consoles

Cybersecurity

The White House will meet with Apple, Microsoft, and other tech giant executives to discuss software security

Nigeria lifts Twitter ban

Nigeria lifts its ban on Twitter following the company's compliance with government demands

No Result
View All Result

The Big 5

Africa Tech

Tech Diplomacy: How Africa is Leveraging Technology for International Relations and Development

by Tech Gist Africa
07/21/2025
0

...

Media and Entertainment

How African Technology is Changing the Face of Media, Entertainment, and Digital Content

by Tech Gist Africa
07/14/2025
0

...

Ecobank

Ecobank, Google Partner to Boost Financial Inclusion and Innovation Across Africa

by Tech Gist Africa
07/08/2025
0

...

AWIEF

AWIEF 2025 Awards Nominations Now Open to Celebrate Africa’s Top Women Entrepreneurs

by Tech Gist Africa
07/08/2025
0

...

Google for Startups Accelerator Africa

15 African AI startups Selected for Google for Startups Accelerator Africa

by Tech Gist Africa
07/08/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.