Algebra Ventures backs Nigerian distressed-debt platform BFREE
BFREE is a specialist investor in distressed retail and SME debt across Africa.
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Algebra Ventures, an Egypt-based venture capital firm, has made its first investment in a Nigerian company, backing BFREE.
BFREE is a specialist investor in distressed retail and SME debt across Africa. The company acquires non-performing unsecured loan portfolios and resolves them through an ethical, technology-driven platform designed to ensure fair borrower treatment.
Algebra Ventures said that, across African markets, billions of dollars in consumer and SME credit remain unresolved because the institutional infrastructure to manage and clear distressed debt has historically been limited.
The firm said BFREE founders Julian Flosbach, Moses Nmor and Chukwudi Enyi have built a platform combining portfolio pricing, risk management and proprietary data infrastructure to resolve distressed consumer debt at scale.
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