Affinity Africa
OperatingAffinity Africa builds financial institutions that leverage fintech to support the financially underserved and excluded.
- FinTech
- Accra, Ghana
- Seed
- Founded 2013
- affinityafrica.com ↗
- Total raised
- $8M
- disclosed
- Last round
- $8M
- Seed
- Rounds
- 4
- since 2013
- Investors
- 9
- on record
- Employees
- 11-50
About Affinity Africa
Affinity Africa is an owner and operator of financial services companies in sub-Saharan Africa. We pride ourselves on establishing digital-forward and branch-light financial institutions, leveraging fintech and innovative design-led solutions to improve financial access and affordability.
Affinity supports the unbanked and under-served by providing every individual and business with accessible and affordable financial services they can trust. The business intends to make digital banking a successful and valuable part of its distribution strategy showcasing a better standard for banking in Africa.
Founded in 2013, Affinity launched in Ghana in 2015 after acquiring PayFlex Microfinance Company Limited (now known as Affinity Ghana Savings and Loans) to focus on financial inclusion and financial literacy in a region that is underserved and under-penetrated. Ghana’s banked rate is 40%, where access to capital is even lower at 8%; this cripples MSMEs (micro, small and medium-sized enterprises) and entrepreneurship. Affinity currently supports the lives of 25,000 individuals and we estimate that our products will impact the lives of up to 400,000 by 2024.
Affinity Africa funding4 rounds
All 4 rounds →Affinity Africa has raised $8M across 4 disclosed rounds. The latest is a $8M Seed announced 11 Feb 2025, led by Grazia Equity.
Who has invested in Affinity Africa
| Announced | Round | Lead · investors | Amount |
|---|---|---|---|
| 11 Feb 2025 | Affinity Africa Seed | Grazia Equity +7 | $8M |
| 11 Apr 2024 | Affinity Africa Venture | Renew Capital | Not disclosed |
| 14 Feb 2024 | Affinity Africa Non-equity Assistance | Visa Accelerator | Not disclosed |
| 01 Mar 2023 | Affinity Africa Venture | Launch Africa | Not disclosed |
Affinity Africa founders & team
- Tarek MouganieFounder and Group CEO
- Tarek MouganieFounder and Group CEO
Affinity Africa competitorssame sector · similar funding
- Asante Financial Services GroupNairobi, Kenya
- AfriexLagos, Nigeria
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Frequently asked about Affinity Africa
- Where is Affinity Africa based and when was it founded?
- Affinity Africa is headquartered in Accra, Ghana and was founded in 2013.
- Who founded Affinity Africa?
- Affinity Africa was founded by Tarek Mouganie (Founder and Group CEO) and Tarek Mouganie (Founder and Group CEO).
- Who is the CEO of Affinity Africa?
- Tarek Mouganie is Affinity Africa's Founder and Group CEO.
- How much funding has Affinity Africa raised?
- Affinity Africa has raised $8M across 4 disclosed rounds. Its latest, a $8M Seed, was announced on Feb 11, 2025.
- Who has invested in Affinity Africa?
- Backers include Grazia Equity, BACKED VC, Renew Capital, Launch Africa and 5 others.
- What sector is Affinity Africa in?
- Affinity Africa operates in FinTech, Financial Services and Banking.
