Affinity Africa secured $8 million in seed funding, with The London and Cambridge Technology team advising Backed VC on its lead investment.
Other investors include Grazia Equity, Enza Capital, Launch Africa, Renew Capital, Finca International, Attijariwafa Ventures, ImpactAssets, and Eldon Capital.
Affinity Africa is a Ghanaian fintech that provides banking products to the underserved and unbanked. The company uses online and offline digital channels as a valuable part of its distribution strategy, enabling users to make banking affordable for individuals and micro, small, and medium enterprises.
Backed VC is a frontier tech venture capital fund investing in exceptional founders at the seed stage in Europe, with over 90 investments. Backed is a long-standing client of Goodwin, and this transaction represents another investment from Backed’s fintech practice, on which Goodwin advised. Backed has invested in fintech companies such as Thought Machine (a unicorn in core banking) and BCB Group (a bank for crypto businesses).
Adam Thatcher and Emily Townsend led the Goodwin team.
