About afb Ghana
afb Ghana is a Financial Services company based in Accra (Ghana) founded in 2010, and was acquired by Letshego in January 2017. Consumer loans are offered via an online platform in Ghana. afb Ghana has raised $25 million across 1 funding round from investors including LeapFrog Investments and Letshego. afb Ghana has completed 1 acquisition, including Weza Tele. Its chief executive, as recorded, is Bruce Sneddon. Its focus areas include FinTech, Alternative Lending, Online Lenders and Consumer Loans.
Company details
AFB Ghana was established in 2010 as a fintech company based in Accra, specializing in consumer lending. Operations focus on digital services, including payroll loans for salaried employees, direct loans, and SmartCash options for informal traders. Credit life insurance is provided on select products to cover balances in cases of death, disability, illness, or retrenchment. A prepaid card is also available for payroll and direct loans, serving the Ghanaian market.
- Headquarters Accra, Ghana
- Stage Acquired
- SectorsFinancial Services
- Email••••••••
- Website afb.com.gh
- Social LinkedIn X Facebook
- Acquired by Letshego (Jan 2017)
- Total Equity Funding$25M (USD)
in 1 rounds
- Latest Funding Round$25M (USD), Series C
Feb 2015
- InvestorsLeapFrog Investments
& 1 more
- Investments & Acquisitions
- Acquired byLetshego
(Jan 2017)
Funding Insights of afb Ghana
afb Ghana has successfully raised a total of $25M through 1 strategic funding round. The most recent funding activity was a Series C round of $25 million completed in February 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $25M
- Total Rounds 1
- Last Round Series C — $25M
- First Round $25M
(Feb 2015)
- Investors Count 1
All 1 funding rounds of afb Ghana with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Feb 2015 | $25M | Series C | – | – |
2 investors in total: 2 institutional.
Investors in afb Ghana
afb Ghana has secured backing from 2 investors, including venture fund and institutional investors. Prominent investors backing the company include LeapFrog Investments and Letshego.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Private equity fund focused on banking, finance, healthcare, and multiple sectors | 2007 | leapfroginvest.com | Johannesburg, South Africa | |
Provider of microfinance services | 1998 | letshego.com | Gaborone, Botswana |
Investor details for afb Ghana
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
People of afb Ghana
1 people are tracked at afb Ghana (1 in leadership).
| Name | Role | Group |
|---|---|---|
Bruce Sneddon | CEO | Leadership |
Complete people profiles for afb Ghana
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Investments & Acquisitions by afb Ghana
afb Ghana has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Weza Tele.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Financial technology association is operated in Nairobi since 2011. | wezatele.com | Nairobi, Kenya | 2011 | May 2015 | $1.7M |
Complete acquisition details for afb Ghana
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- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
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Frequently Asked Questions about afb Ghana
afb Ghana was founded in 2010 and raised its 1st funding round 5 years after it was founded.
afb Ghana is headquartered in Accra, Ghana. It is registered at Accra, Greater Accra, Ghana.
Bruce Sneddon is the CEO of afb Ghana, as recorded in our data.
afb Ghana is a funded company, having raised a total of $25M across 1 funding round to date. The company's 1st funding round was a Series C of $25M, raised on Feb 2015.
AFB Ghana was established in 2010 as a fintech company based in Accra, specializing in consumer lending. Operations focus on digital services, including payroll loans for salaried employees, direct loans, and SmartCash options for informal traders. Credit life insurance is provided on select products to cover balances in cases of death, disability, illness, or retrenchment. A prepaid card is also available for payroll and direct loans, serving the Ghanaian market.
afb Ghana has made 1 acquisition, including Weza Tele.
afb Ghana has 2 investors. Key investors include LeapFrog Investments, and Letshego.
Yes. afb Ghana was acquired by Letshego in January 2017.