Nigerian fintech startup, Aella Credit, raises $10 million debt financing to expand and invest in blockchain


Nigerian fintech startup, Aella Credit, has raised $10 million debt financing round, from HQ Financial Group (HQF), a Singapore-based private company specializing in new material science, semiconductor and blockchain financial investments.

The micro-lending platform which focuses on poor and low-income households, entrepreneurs, and nascent businesses, was founded in 2015 by Akin Jones and Akanbi Wale.

This financing round is Aella’s second raise and comes after the startup raised $2 million seed funding at Y Combinator from seed investors including Micheal Seibel, Y Combinator’s CEO; Brian Armstrong of Coinbase; Bill Paladino, former head of Naspers eCommerce); 500 Startups, among others.

Akanbi Wale (CTO) and Akin Jones (CEO)

Licensed to operate in both Nigeria and the Philippines, CEO, Akin Jones says Aella plans to use this funding to scale its lending operations and expand its product base into payments.

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“Lack of access to credit and financial services has been the main impediment to MSME growth and poverty reduction in several…



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