The London and Cambridge Technology team advised Backed VC on its lead investment in the $8 million seed funding of Affinity Africa. 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 seed stage in Europe, with over 90 investments to date. Backed is a long-standing client of Goodwin and this transaction represents another investment from Backed's fintech practice on which Goodwin advised. Backed have invested in fintech companies such as Thought Machine (unicorn in core banking) and BCB Group (bank for crypto businesses).
The Goodwin team was led by Adam Thatcher and Emily Townsend.
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