Founded in 2020 and headquartered in Lagos, BFree builds post-loan infrastructure to acquire, assess and recover non-performing loan portfolios across Africa. The company uses machine learning to profile defaulting borrowers, predict repayment capacity and customise engagement through automated bots and self-service portals while avoiding punitive measures such as late fees or blacklisting. To date it reports having handled over $740M of distressed loans and interacting with roughly 6.6 million borrowers, serving more than 30 financial institutions across Nigeria, Ghana and Kenya. BFree has shifted from offering SaaS collections tools toward actively buying written-off or delinquent loans and managing recoveries internally. The startup is exploring technical extensions including blockchain and DeFi tools to streamline secondary debt trading. Its current financing mix includes equity and multiple debt facilities that the company is deploying to scale NPL acquisitions and ethical recovery operations.

Total raised

$5M

Funding rounds

4

Latest round

Equity

Latest activity

Feb 2024