Aella, a fintech company located in Nigeria which aims to improve the financial inclusion for the low-income segment of West Africa, has successfully raised a $10 million in debt financing round, from Singapore-based private company, HQ Financial Group. HQ Financial Group specializes in semiconductors, new material science, and financial investments in<a href="https://www.cryptoknowmics.com/crypto-tutorial/blockchain/"> blockchain</a> technology.

This debt financing round was the second raise from the company from which it would sustain a range of startups dedicated to assisting the underbanked residents of West Africa and several other developing markets. Aella was launched by<a href="https://twitter.com/akinjones01"> Akin Jones</a> and Akanbi Wale in late 2015. Akin Jones and Akanbi Wale are the company's CEO and CTO, respectively. 
<h2>How Aella Will Boost The Nigerian Economy</h2>
<blockquote>"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", said Aella CEO, Akin Jones.</blockquote>
Aella would also provide funds for new products which would include Creditcoin, a lending market based on blockchain technology, to establish the worthiness of borrower credit. By late 2020, Aella would aim itself to acquire an additional one million users, who would make it the biggest blockchain-backed financial services project that is currently operational.
<h2>Statements From Gyu About The Partnership</h2>
HQ Financial Group CEO, Sun Han Gyu, cited they were excited to declare their tie-up with Aella Credit which would significantly help in a rapid increase in micro-loan services to the underserved African populations who were lacking access to the banking services.

He further added that HQF was impressed with their exceptional growth by shallow default rate in the micro-loan business in Nigeria and looked forward, by this initial expenditure worth $10 million to fresh opportunities of growth in both South Asia and Africa.

Nigerian-Based Startup Aella Raises $10 Million In Debt Financing Round

Aella, a Nigerian-based fintech firm aimed to boost the financial inclusion in West Africa, has successfully raised a $10 million in debt financing round.

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Nigerian-Based Startup Aella Raises $10 Million In Debt Financing Round

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