Participated · Seed · Feb 2025

Affinity Africa runs a full-stack digital bank aimed at closing Ghana’s financial inclusion gap by offering free current and savings accounts, instant payments, and algorithmically priced credit lines to individuals and MSMEs. Launched publicly last October, the Accra-based app has already attracted more than 50,000 customers, 65% of whom had never used formal banking before and over 60% of whom are women working in the informal sector. The fintech disburses credit at monthly interest rates of 3–7% and has issued more than $15 million in loans while maintaining a 3% non-performing loan ratio. Loans contribute over 90% of revenue, which has climbed 37% month-over-month during the past six months; deposit inflows, growing 54% month-over-month, are sourced mainly (89%) from mobile-money top-ups. Affinity complements its mobile product with an in-person agent network of about 30 representatives who have onboarded roughly half of its customers, 55% of whom subsequently migrate to the app. The hybrid distribution strategy aims to build trust and accelerate digital adoption among first-time banking users. With a proprietary banking software stack and regulatory approval under a savings-and-loans license, the company plans to deepen its product suite and scale nationwide using newly secured capital.