Bfree, a Nigerian startup enabling lenders to recover debt ethically, gets $3M backing
- Bfree, a tech-enabled debt collection startup, was founded to automate and introduce ethical debt recovery processes.
- The startup has secured $2.95 million in funding and plans to scale in Ghana, Kenya, and Nigeria.
- Bfree aims to create a secondary debt market for non-performing loans and has slowed down its expansion plans to focus on its key markets in Africa.
Bfree's focus on automating and introducing ethical debt recovery processes is commendable. The startup's ability to secure funding and expand its customer base demonstrates the value of its products and services. The plan to create a secondary debt market for non-performing loans shows innovation and potential for growth in the financial services sector in Africa.
