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
-
BGFIBank Cameroon Increases Capital to CFA50Bln Ahead of Stricter Banking Rules
20:58
-
Cameroon secures Gold Medal at Cacao of Excellence Awards, topping Africa & Indian Ocean category
20:52
-
DRC seeks ITC support to advance battery mineral value chains
20:49
-
“We See a Structural Copper Shortage Emerging,” Olivier Binyingo, Chairman of Kamoa Copper
20:19
-
DRC Suspends Livestock Imports from South Africa Amid Foot-and-Mouth Outbreak
18:26
-
Cameroon Signals Possible Return to Bvmac with Up to CFA150 Billion Bond
18:15
-
Public Enterprises Hold CFA1.5 Trillion in Assets, CFA493.9 Billion in External Debt at End-2024
18:08
-
Cameroon Faces CFA65.7 Billion in Repayments, Turns to Market for Relief
18:04
-
In Africa, a Market for Medical Robotics Is Expanding. Adoption Is the Hard Part
16:16
-
Togo ranks second in Africa in World Bank gender law index
15:15
ECOWAS central bank governors reaffirm a 2027 target for launching the Eco. Nigeria signals...
Amazon begins talks with Kenya on low-Earth orbit satellite broadband Kenya’s digital market ...
Dangote to list $20-25 billion refinery within five months NNPC holds 7.25% stake; dividends...
Siguiri mine produced 289,000 ounces in 2025, up 6% Fourth-quarter output rose 15%, boosting annu...
Naira strengthens to 1,348 per dollar, boosting assets Lagos market gains 25,000 billion naira in...
Cameroon wins gold at 2026 Cacao of Excellence Awards Top sample selected from 191 entries worldwide Award boosts position in premium “fine flavour”...
DRC seeks ITC support for local battery value chains Musompo SEZ targets $2 billion private investment Progress slowed amid coordination,...
In 2025, the development of the Kamoa-Kakula copper complex, the largest in the Democratic Republic of the Congo (DRC), was marked by two major events: a...
DR Congo bans South African livestock imports over FMD Measure suspends permits for animals and animal products South Africa ramps up vaccination,...
More than 500 media leaders gathered in Nairobi on Feb. 25–26 for the fourth African Media Festival under the theme “Resilient Stories: Reinventing...
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...