First investment in Nigeria unlocked

Written by: Algebra Ventures Team

We’ve made our first investment in a Nigerian company! 🇳🇬

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.

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. Healthy credit markets need credible, disciplined buyers of distressed assets, and BFREE is building exactly that.

Founders Julian Flosbach, Moses Nmor and Chukwudi Enyi have built a platform that combines rigorous portfolio pricing, strong risk management, and deep proprietary data infrastructure to resolve distressed consumer debt at scale. With more than 35 transactions completed and over 11 million borrower accounts managed across the continent, the team has established a strong track record with African lenders.

Together with AfricInvest Group and BFREE’s existing investors, we are backing the company as it continues to scale across Africa and beyond.