Nigerian fintech startup, Aella raises $10 million debt financing round

Techloy
Techloy
Feb 10 · 2 min read

Nigerian fintech start-up, Aella has raised a $10 million debt financing round, from Singapore-based HQ Financial Group (HQF) to help the company scale its expansion across Africa.

Earlier, Aella raised $2 million in seed funding from San Francisco-based startup programme, Y Combinator, and seed investors including Micheal Seibel of Y Combinator, Brian Armstrong of Coinbase, Bill Paladino (former head of Naspers eCommerce), Tae Oh, Shawntae Spencer (former San Francisco 49ers Cornerback), VY Capital, 500 Startups, Gluwa and others.

Aella will also the funds to invest in new products including a blockchain-based lending market called Creditcoin, to build borrower creditworthiness and aid in the acquisition of one million additional users by the end of 2020, making it the largest blockchain backed financial services project that is currently operational.

In this Techloy timeline infographic, we look at Aella’s funding history since November 2016 to date.

Editor’s Note: Thank you for using our infographics or sharing them on social media. Find more insights via http://medium.com/techloy/insights/home.

Techloy | Data-driven insights into tech and business in Africa

Techloy is a digital publication covering news and data…

Techloy

Written by

Techloy

Covering news and insights into technology and business in Africa. Get in touch: hello@techloy.com

Techloy | Data-driven insights into tech and business in Africa

Techloy is a digital publication covering news and data about business, finance and technology, using infographics and charts to help people and brands make better decisions.

More From Medium

More from Techloy | Data-driven insights into tech and business in Africa

More on Insights from Techloy | Data-driven insights into tech and business in Africa

More on Insights from Techloy | Data-driven insights into tech and business in Africa

Could Odion Ighalo Become Manchester United’s Best African Player?

More on Insights from Techloy | Data-driven insights into tech and business in Africa

More on Insights from Techloy | Data-driven insights into tech and business in Africa

Mobile Phone Gender Gap in Sub-Saharan Africa in 2020

Welcome to a place where words matter. On Medium, smart voices and original ideas take center stage - with no ads in sight. Watch
Follow all the topics you care about, and we’ll deliver the best stories for you to your homepage and inbox. Explore
Get unlimited access to the best stories on Medium — and support writers while you’re at it. Just $5/month. Upgrade