Aella Credit

What Aella Credit does

Aella Credit is a Nigeria-licensed digital microfinance bank that operates a mobile-first platform combining consumer banking, lending, payments, savings, and card services for individual Nigerians and micro, small, and medium enterprises (MSMEs). The core Aella App distributes instant personal loans up to N2,000,000, employee/salary loans, and business loans up to N10,000,000, alongside high-yield savings products (Aella Chest at 14% p.a., Chest Lock up to 22% p.a., Circle Goals, and Targeted Savings), a customizable CTRL debit card, free transfers after the first four, and bill payments. Underlying technology includes AI-assisted credit scoring across credit bureau, bank account, BVN/NIN identity, device, and behavioral signals, plus blockchain-based credit scoring via the Credal Network (Gluwa partnership, 2021), with PCI DSS and ISO/IEC 27001-aligned controls.

Aella generates revenue primarily through interest on its loan book (instant personal, employee, and business loans), interest spread on savings float, transaction and interchange fees from POS terminals, and B2B API access fees through its Fintech-as-a-Service platform (Wallet-as-a-Service, KYC verification, bank lookups, sub-accounts, direct debit). A debt-as-a-Service platform piloted in 2022 disbursed over $70 million in its first year, adding a third B2B revenue stream. Distribution is product-led via self-serve mobile app, a dedicated merchant portal, and direct POS terminal deployment, with marketing primarily through organic social media and an N1,000-per-referral program.

The business is headquartered in San Francisco but operates principally in Nigeria under Aella Microfinance Bank Limited, regulated by the CBN with NDIC-insured deposits; the entity was founded in 2015 as the first digital lender in Nigeria to leverage BVN, admitted to Y Combinator in 2017 as the first African lender, reached profitability in 2019, and consolidated its banking license through the 2023 acquisition of Flourish Microfinance Bank before rebranding as Aella Microfinance Bank in 2024.

Name

Aella Credit

Legal name

Aella Microfinance Bank Limited

Website

https://aellaapp.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Aella Credit is a CBN-licensed Nigerian digital microfinance bank offering mobile-first lending (up to N2M personal, N10M business), high-yield savings up to 22% p.a., POS, cards, and Fintech-as-a-Service APIs to over 2 million retail consumers and MSMEs.

Ownership category

akta.pro rank

Product category

Digital Microfinance Banking

NAICS

Credit Intermediation and Related Activities (522), Depository Credit Intermediation (5221)

SIC

Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)

akta.pro primary industry

Embedded Lending & Credit (POS, Working Capital, Credit Lines) (FSAGALAD)

akta.pro secondary industries

Embedded Deposit Accounts & Digital Wallet Infrastructure (FSAGALAE), Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Digital banking
• Consumer lending
• Mobile payments
• Savings products
• Microfinance services

Headquarters

HQ city

San Francisco

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Operations, Personnel, Marketing or Sales, Supply Chain

Revenue model

1. Lending / Interest Income: Revenue from interest charged on instant loans (personal loans up to N2,000,000, employee loans, business loans up to N10,000,000), with discounts offered for timely repayments.
2. Transaction Fees: Free first 4 transfers, after which transfers are free (no fees). POS transactions likely generate interchange income. Revenue from payment processing on bill payments.
3. Savings Float / Interest Spread: Aella Vault savings products (Chest 14% p.a., Chest Lock up to 22% p.a., Circle Goals, Targeted Savings) generate revenue through interest spread on deposits.
4. POS Terminal Revenue: POS terminal deployment to merchants; revenue from transaction fees on card, transfer, USSD, and QR code payments processed through terminals.
5. Fintech-as-a-Service API Access: API access fees for developers and platforms accessing KYC verification, wallet-as-a-service, bank lookups, sub-accounts, and direct debit solutions.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels8 records

Core offering

Aella Credit is a CBN-licensed Nigerian microfinance bank offering a mobile-first digital banking platform that provides individuals and micro/small businesses with instant loans (up to N2,000,000), high-yield savings products (up to 22% p.a.), free transfers, bill payments, customizable debit cards, POS terminals, and merchant collections. The company also exposes its KYC, wallet, virtual account, and direct debit capabilities through a Fintech-as-a-Service API platform targeting developers and fintech platforms.

Product overview

Aella Credit operates as a digital banking platform offering a unified ecosystem of financial products. The core Aella App serves as the central hub providing personal and business banking services, supplemented by dedicated modules including Credit (loans up to N2,000,000), Vault (savings up to 22% p.a. with products like Chest, Chest Lock, Circle Goals), CTRL Card (customizable expense card), Payments (instant transfers, bulk payments, bill payments), and Business Banking (accounts, POS terminals, business loans up to N10,000,000). The platform also offers a Fintech-as-a-Service API platform enabling developers to integrate wallet, payment, KYC, and banking services. Aella is licensed by CBN as a Microfinance Bank with deposits insured by NDIC.

Differentiator

Problem solved

Functional benefit

Products and services

• Aella Credit (Instant & Employee Loans) Instant personal loans up to N2,000,000 and employee/salary loans with flexible repayments, low interest rates, no collateral, and discounts for timely repayment; targeted at Nigerian individuals and salary earners.
• Aella Vault (Savings) High-yield savings platform offering Aella Chest (14% p.a. flexible savings with daily interest), Aella Chest Lock (up to 22% p.a. with lock-in period), Circle Goals (collaborative group savings), Targeted Savings (goal-based personal savings), and Top Savers Circle; targeted at individual savers seeking competitive returns in Nigeria.
• Aella CTRL Card
• Aella Payments (Transfers & Bill Pay)
• Aella Business Banking
• Aella Payment and Collection
• Fintech-as-a-Service (API Platform)

Quantifiable outcome

• N100B in loans disbursed across the platform lifetime
• +6 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability3 records

Feature8 records

Partnerships

Two partnerships are on record, tiered core.

• GluwacoreTechnology or Integration · 1 January 2021Partnership with Gluwa for blockchain credit scoring integration. Aella integrated into the Credal Network via Gluwa, enabling blockchain-based credit assessment as part of Aella's AI-assisted credit scoring system.
• Credal NetworkcoreTechnology or Integration · 1 January 2021Integration into the Credal Network for blockchain credit scoring. Aella uses Credal Network's infrastructure to access decentralized credit scoring data to assess borrower creditworthiness.

Scale indicators11 records

Recent moves7 records

Expansion highlights6 records

Broad incumbents

• OPay: OPay is a Nigeria-headquartered fintech super-app offering payments, lending, cards, and ride-hailing with significantly more capital than Aella. It overlaps Aella's consumer and merchant products as part of a broader, better-funded platform play.
• PalmPay: PalmPay is a Nigerian mobile payments and digital banking super-app offering transfers, bill payments, savings, and credit. It competes with Aella across consumer payments and savings, backed by significant Chinese-investor funding.

Direct peers

• Carbon (formerly Paylater): Carbon is a Nigerian digital lending platform offering instant personal loans, investments, and bill payments via mobile app — directly competing with Aella's consumer credit and savings products in the same Nigerian market.
• Moniepoint: Moniepoint (formerly TeamApt) is a Nigerian business banking and POS platform serving SMEs with accounts, payments, and working capital. Highly comparable to Aella's MSME business banking and POS segments.
• Kuda Bank: Kuda is a Nigerian digital-only bank offering free current accounts, savings, cards, and loans via mobile app. It competes with Aella on the consumer banking, savings, and card fronts within the same Nigerian market.
• Branch International: Branch is a mobile-first digital lender operating across Africa (including Nigeria) that provides instant loans and digital banking via Android app. Comparable to Aella in AI-driven consumer credit underwriting and emerging-market focus.
• FairMoney: FairMoney is a Nigeria-based (and emerging-market-focused) digital lender providing instant personal loans, savings, and neobanking services. It competes head-to-head with Aella on consumer credit, deposits, and app-led distribution.
• Renmoney: Renmoney is a licensed Nigerian microfinance bank offering personal loans, salary-backed loans, and savings products. Like Aella, it combines regulated deposit-taking with consumer/SME credit targeting underbanked Nigerians.

Others

• Flutterwave: Flutterwave is a leading Nigerian payments infrastructure provider enabling merchants and fintechs to accept and process payments across Africa. Relevant as a peer because both companies serve the same developer/fintech ecosystem and overlap in payment rails that complement Aella's BaaS offering.

Regional players

• Carbon Zero (Lidya) / Lidya: Lidya is a digital lending platform focused on African SMEs, providing working capital and credit scoring infrastructure. Comparable to Aella's MSME lending and AI credit scoring model, though historically more active outside Nigeria.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/aellaapp
• Facebookfacebook.com/aellaapp
• LinkedInlinkedin.com/company/aella-app
• Instagraminstagram.com/aellaapp

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

Funding overview

Funding rounds4 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Aella Credit