Denis Opudo
Aella Credit and Gluwa partnership use blockchain technology to expand credit access. The joint venture targets the unbanked and underbanked population globally. The success of this group came from various groups of Silicon Valley investors. Investors include VY Capital, CEO of Coinbase, Zeno Ventures, Y Combinator and 500 Startups. It is worthwhile to note the steps taken by these two companies to market and develop Credit coins.
The Credit company core goal is to provide instant loans to potential Africans. The applicants comprise of those with the individual resources or formal employment status. The procedure for accessing the loan is simple by downloading the app. Besides downloading the app, the users fill basic information by following simple instructions. In Africa, Aella Credit is the most downloaded app, particularly in Nigeria. The company projects around one million subscribers by the end of 2018.
The company decided to take the business a notch higher by use of blockchain technology. The decision called for a partnership with the Gluwa Company. Gluwa startup is a San Francisco based Credit coin developer which accelerates credit network decentralization. Gluwa Company develops the technology while Aella Credit is the technology distributor. The collaboration fosters competitive advantages by involving both technology developers and primary distributors.
