Founded in 2020, BFREE leverages artificial intelligence (AI) to revolutionize credit collection processes across emerging markets.

“We are focused on tackling risk management challenges within African economies,” stated BFREE CEO Julian Flosbach.

“By harnessing AI, we create solutions that empower both lenders and distressed borrowers, ultimately contributing to financial stability across the continent.”

Initially focused on automating credit collection software, BFREE has strategically shifted its approach.

The company now utilizes extensive data on non-performing loan portfolios to expertly evaluate and structure acquisitions in collaboration with investors like alternative asset managers and hedge funds seeking to capitalize on emerging market credit portfolios.

This latest funding round, led by Capria Ventures, will be used to improve BFREE’s suite of risk management solutions tailored for banks and lenders. Additionally, the funding will support BFREE’s expansion plans across the African continent.

Susana García-Robles, managing partner at Capria Ventures, believes BFREE is well-positioned to play a vital role in enhancing financial service accessibility and mitigating risk.

“We anticipate BFREE spearheading the creation of a secondary market for distressed assets on the continent,” she remarked.