Affinity Africa has raised $8 million in seed funding to expand its digital banking platform and improve financial access across Africa. Led by Grazia Equity and BACKED VC, the funding round underscores strong investor confidence in Affinity’s mission to serve underbanked communities. Since launching in Ghana in October 2024, the platform has attracted over 50,000 users, with 65% of customers accessing formal banking for the first time. Women in the informal sector make up over 60% of its users, reflecting its success in reaching underserved populations. Affinity Africa operates a branchless model through a mobile app and agent network, eliminating monthly fees and transaction charges while offering savings, loans, payments, and investment services. The company has seen rapid growth, with customer numbers tripling year-over-year and savings increasing by 35% monthly. Founded by Tarek Mouganie in 2022, Affinity Africa plans to expand beyond Ghana, leveraging its hybrid digital model to transform financial access across the continent. Read the full story here: TechInAfrica