Topic: Credit Coin is the coin to watch in 2020. (Read 126 times)

Creditcoin looks to be a collaboration between two fintech firms:
Aella Credit
Gluwa

Source: https://www.coinspeaker.com/creditcoin-turns-digital-wallets-investment-market/

Gluwa and Aella Credita have joined forces to launch Creditcoin, an inter-blockchain P2P lending market that operates across distributed ledgers ensuring permanent record of transactions that cannot be alter or tampered with.

So what are Aella Credit and Gluwa?

So Gluwa is a Fintech / Finance firm based out of Silicon Valley working on some sort of Stable Coin (USD-G)

Source: https://www.crunchbase.com/organization/gluwa
and lists 500 Startups as its main investor, which is a global VC withh over $500m in investments.

Aella Credit looks to be another fintech/finance firm based out of sillicon valley & Nigeria working on some sort of credit solution for loans

https://www.crunchbase.com/organization/aella-credit#section-investors
and lists Brian Armstrong (CEO of Coinbase), Y Combinator, Vy Capital, 500 startups, Zeno Ventures, HQ Financial Group, Unis Venture Fund, Steve Chen (Founder of Youtube) as investors.
This seems like a pretty solid backing.

In terms of what Aella is doing,

https://techcabal.com/2020/02/10/nigerian-fintech-aella-credit-is-pivoting-after-raising-10-million/

Over the last five years, the company said growth has been impressive. Two months after it launched, Aella provided 90 million loans, Jones told TechCabal in 2015.
But in the last two years, it said its user base has grown 674% and revenue grew 193%.
Aella’s latest funding round is its second investment. It previously raised $2 million seed funding from YCombinator, 500 Startups, VY Capital and Gluwa. A number of important individual investors also participated in the round including Michael Siebel from YCombinator, Coinbase’s Brian Anderson and former NFL cornerback, Shawntae Spencer.
With the new investment from HQF, Aella has announced three important moves.
First, the company plans to expand across Africa and South-eastast Asia.
Second, it is working on a blockchain lending solution called Creditcoin. Not much is known about the product. But according to a press release, Creditcoin will provide creditworthiness information “and aid in the acquisition of one million additional users by the end of 2020”.
It sounds like Creditcoin will be used to process the loan history along with creditors history through the Aella App, which will offer Loans, investments, Health Insurance, and bill payments.

https://play.google.com/store/apps/details?id=com.aella.comportal&hl=en

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