Nigeria’s Aella Credit raises $10mln expansion fund
Monday, 10 February 2020 14:39
Nigeria-based FinTech startup Aella Credit has mobilized $10 million from HQ Financial Group, a Singaporean private company specializing in blockchain financial investments, to finance its expansion across West Africa.
Aella wants to develop new financial solutions and create a credit platform that will work with blockchain. “We are building a one-stop app for all transactions partnered with regulated industry leaders to help distribute products faster, better and cheaper to end-users in Nigeria and across the markets we plan to launch. This app will allow users to access multiple financial services at low costs compared to what is currently available in the market,” said Akin Jones (pictured, right), co-founder of Aella.
The company said it has increased customer base by 674% and turnover by 193% over the past two years. Also, it has granted more than 300,000 loans since its inception in 2015. The second co-founder of the group is Akanbi Wale (pictured, left).
Chamberline Moko
Live News
-
Nigeria’s Wema Bank Secures $6 Million Proparco Guarantee to Back MSMEs
09:47
-
Despite Security Concerns, Expert Says Trans-Saharan Gas Pipeline Is Technically Ready
09:35
-
“We Don’t Just Finance Projects. We Make Them Bankable” — Jean-Arsène Yerima, RCOO, FWA, Afreximbank
09:27
-
By Late Century, Heat Waves Could Grip Much of Africa Year-Round
09:24
-
Lagos to host MarkHack 5.0 on 5 June 2026
09:19
-
South Africa launches national cleantech competition with nine province-level challenges
09:16
-
Kenyan Low-Carbon Startups Invited to Join Climate Finance Accelerator
08:44
-
Kenya: VunaPay Introduces Near-Instant Payments for Smallholder Farmers
08:32
-
Cameroon Raises CFA1.3 Trillion, but Market Conditions Turn Tougher
20:24
-
Cameroon’s Public Works Ministry Moves Into New HQ, but Contractors Still Await Payment
20:15
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
South Africa led with 35% of total deal value, ahead of Kenya and Egypt Inbound deal value ro...
Investigation targets alleged breaches of Nigeria’s 2023 data protection law Platform processes p...
West African Development Bank (BOAD) launched preparation of its 2026–2030 strategic plan wit...
The fast-growing installment payment market is set to expand sharply across the continent, even as s...
U.S. analyst says TSGP faces no major engineering obstacles despite Sahel security concerns 4,000-km pipeline would link Nigeria’s gas reserves to...
Jean-Arsène Yerima, Regional Chief Operating Officer for Francophone West Africa at Afreximbank, sets out the bank’s strategy to fast-track...
Study projects 250–300 heat wave days annually in most regions by 2065–2100 Land-use change, including deforestation, amplifies extreme...
A funding round secured despite a global slowdown in venture capital Expansion into Saudi Arabia positions the company within one of the world’s...
Located about 500 kilometers southwest of Cairo, between the oases of Bahariya and Farafra, the White Desert stands out as one of Egypt’s most distinctive...
The University of Lomé on Wednesday opened a fossil and rock exhibition hall showcasing specimens from the country’s coastal sedimentary basin. Led by the...