Nigerian Debt Recovery Startup Bfree Secures $3 Million Funding to Boost Loan Recovery Across Africa

BFREE, a Nigerian debt resumption startup that uses AI to help consumers manage their debts and lenders to collect their loans, obtained funding of $ 3 million to stimulate the resumption of the portfolio of loans in difficulty across Africa.

The funding was led by Verdant Capital, through its Hybrid Fund Verdant Capital, marking an important step towards the fight against troubled loans in Africa.

The investment will allow Bfree to buy and manage distress loan portfolios from inclusive financial institutions, helping to unlock capital and liquidity in the financial services sector. In addition to funding, BFree will also benefit from the technical assistance installation of the hybrid fund, support for capacity development and operational efficiency.

Founded in 2020, BFREE has established itself as a main company for ethical and digital credit collection in Africa. The company is engaged in transparency, ensuring that customers are regularly updated on the progress of their accounts to support the improvement of credit scores.

In the complex field of loan collection, quality monitoring plays a central role in the insurance of ethical practices, maintaining compliance and optimization of recovery rates. It helps to ensure that loan collectors are ethical and respect the regulations.

The collections team must follow ethical and legal standards when recovering loans who are unanswered from customers. They should not use abusive or harassing tactics or disclose details of the customer’s loan to third parties. Failure to comply with ethical and legal standards can lead to legal action or poor commercial reputation.

In addition, quality monitoring helps improve collection rates. By monitoring collectors’ calls, companies can identify customer behavior trends, provide tailor -made negotiation tactics and provide training and coaching to improve their skills. In turn, this leads to higher recovery rates and a better customer experience.

Bfree is motivated by data, taking advantage of automatic learning to analyze, score and predict consumer behavior. This data -based approach allows the company to innovate and continuously optimize its collection strategies, remaining ahead of traditional methods.

Unlike many others in the industry, BFree does not adopt a unique model for credit management. Instead, it provides tailor -made solutions and personalized messages that meet the specific needs of individual customers.

Confident in the effectiveness of its approach, BFree generally works on a 100% -based committee structure, which eliminates the risk of general costs for its customers. This performance based on performance reflects the strong belief of the company in its ability to provide higher results in the resumption of ethical debt. In just five years, the company has reached more than 6.6 million borrowers with a collective portfolio exceeding $ 740 million in its operational markets. The startup is reliable by rated customers, who include Guaranty Trust Bank (GTBANK), Stanbic Bank, Fair Money, Quick Check, Access Bank, Kuda and Branch.

Bfree’s mission is to transform the credit management landscape by developing solutions that offer borrowers a clear path to long -term financial stability. This is achieved thanks to a strategic combination of self-service tools, automated messaging, contact center support and automatic learning applications.

The company plans to become the supplier of credit management software of choice for lenders and borrowers on emerging markets. BFREE aims to direct the industry thanks to a solid commitment to ethical standards and continuous innovation, positioning itself at the forefront of responsible and effective management solutions.