Aella Transitions to Aella Microfinance Bank, Promising Improved Financial Solutions Tailored For Nigerians
Aella, a prominent provider of credit and financial services in Nigeria, has announced the unveiling of its new identity Aella Microfinance Bank, which was formerly as Aella Credit.
This strategic move underscores Aella’s dedication to innovation and its mission to offer inclusive financial solutions to all Nigerians.
Aella Group was founded in 2015 by Akin Jones, with a current user base exceeding 2 million in Nigeria. The fintech is supported by prominent US venture funds like Y Combinator, 500 Global, Zeno Ventures, and Gluwa Capital, the company aims to streamline financial services and promote financial inclusion in emerging markets.
In a remark, Managing Director of Aella Microfinance Bank, Sosthenes Oluwaseun, expressed excitement about the rebranding stating why it is such an important decision, especially in today’s economic climate.
In his words,
“This transition to Aella MFB is proof of our dedication to innovation and constant reinvention. And this is more than just a name change. Our users will now have access to better banking experiences. Widely known for empowering Nigerians with accessible and low-interest loans, the managing director emphasized the company’s dedication to safeguarding users’ funds, highlighting Aella’s adherence to regulations set by the Central Bank of Nigeria (CBN).
“The transition to becoming Aella MFB guarantees extra safety for our users’ money. We now have stricter measures in place to control fraudulent activities. We are very particular about earning the trust of our users and keeping their money safe is the only way we can do that.”
The chairman of Aella Microfinance Bank, Akin Jones, also revealed that the corporate decision was made in response to the financial struggles of the average Nigerian.
“This name change is not a random decision, it is a response to some of the financial challenges Nigerians face. Aella’s acquisition of Flourish MFB has enabled us to provide safer and more advanced banking services to our users,” Jones added.
