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Bfree, a Nigerian credit management fintech, has raised USD 1.7 Mn in a pre-Series A investment to expand globally and take advantage of the prospects in emerging economies. The round included 4Di Capital, Octerra Capital, VestedWorld, Voltron Capital, Logos Ventures, and several other angel investors. The new financing round brings the total amount raised by the startup to USD 2.5 Mn after raising USD 800 K in a seed round last May.
BFREE offers ethical digital-first credit collection solutions for financial institutions in emerging markets. After 16 months in business, the startup now manages collection processes for more than 30 digital lenders, microfinance banks, and commercial banks in Nigeria and Kenya. IThe fintech plans to use the new funds for global expansion and to significantly strengthen the management team.