Nigerian fintech, Aella Credit has raised a new round of funding as it plans to scale its financial solutions. The microlending company announced a $10 million debt funding from Singapore-based HQ Financial Group (HQF).
Started in 2015, Aella Credit was founded by Akin Jones and Wale Akanbi. The US-incorporated company was launched to simplify and open up financial services to support financial inclusion in emerging markets. The startup operates in two countries Nigeria and the Philippines.
Aella’s main offering is lending. It provides quick loans directly to consumers and uses proprietary information and information from credit bureaus to gauge the creditworthiness of borrowers.
It also offers a service called “Network loans” where companies can sign up on Aella and allow their employees to borrow loans on the platform.
Read more from source article: https://techcabal.com/2020/02/10/nigerian-fintech-aella-credit-is-pivoting-after-raising-10-million/