AELLA raises $10 million to aid debt financing round, from HQ Financial Group (HQF), Singapore-based private company specializing in new material science, semiconductor and blockchain financial investments
Akin Jones, CEO and Akanbi Wale, CTO founded Aella Nigeria in 2015 and has committed itself to build trustworthy credit for emerging markets with much emphasis on Nigeria and the Philippines, where the company is licensed to operate. Aella has focused on lifting many out of poverty by providing financial products like savings, insurance, payments, and specialized loans and also plans to expand its product base into payment.
According to Aella CEO, Akin Jones, he said;
“Lack of access to credit and financial services has been the main impediment to MSME growth and poverty reduction in several emerging economies. Aella’s commitment to providing trustworthy credit to millions of people in the world’s emerging markets is improving financial inclusion, enabling MSME expansion and accelerating economic growth and this raise will allow us to scale our expansion across Africa quickly”,
Apart from the fact that Aella raises $10 million to aid debt financing round, Aella has decided to invest in the blockchain market called Creditcoin, to build the credibility of borrowers thereby increasing its users by the end of 2020.
Jones also said that:
“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”.
The CEO of HQ Financial Group Sun Han Gyu, said:
“We are excited to announce our partnership with Aella Credit which will significantly aid in the proliferation of micro-loan services to the underserved African populations who are unable to access banking services. HQF is impressed with their outstanding growth with very low default rate in the micro-loan business in Nigeria and looks forward, through this initial investment of $10m to new growth opportunities in Africa and South Asia”.
This marks the era of a full-service lending and payments platform and expansion across Africa and South East Asia enabling users to access a range of fast, convenient, and secure financial services. The company’s application will allow users to have access to loans, invest safely and securely, affordable insurance plans and bill payments.
