Digital banking platform Affinity Africa announced on February 11 that it had raised $8 million in an oversubscribed Seed Round led by Grazia Equity and BACKED VC to expand financial services for the unbanked.

Affinity operates a branchless model via a mobile app, agent network, and proprietary tech. Unlike traditional banks, it charges no monthly fees or transaction costs.

With this capital, Affinity will scale operations in Ghana and expand further across Africa, driving financial inclusion.