Jia Raises $4.3 Million To Revolutionize Small Business Financing In Africa
Jia: Empowering African Businesses with Blockchain Financing. Raised $4.3M to bridge the funding gap. Expanding operations in Kenya and beyond. Tokens as rewards. Partnered with Huma Finance for stronger financial services.
By Anna B Kiwanuka
Jia, a blockchain-based fintech startup, has secured $4.3 million in seed funding to address the small business financing gap in Africa. Led by TCG Crypto and supported by prominent funds such as BlockTower and Saison Capital, this investment marks a significant step towards empowering entrepreneurs in the region.
With Africa’s economy driven by micro and small businesses, comprising 90% of all enterprises, access to affordable financing remains a pressing challenge. Jia aims to tackle this issue head-on by leveraging blockchain technology to offer tailored loans to micro and small businesses across the continent.
What sets Jia apart is its innovative rewards system. Upon successful loan repayment, borrowers receive tokens, effectively becoming owners in Jia’s ecosystem. These tokens hold inherent value and can be redeemed based on Jia’s profitability. By issuing Jia points as tokens, borrowers can utilize them as collateral to access lower interest rates, higher loan amounts, and more flexible loan terms.
Jia’s focus on Africa is evident as it plans to consolidate operations in Kenya and the Philippines, with further expansion into West Africa, Latin America, and Asia on the horizon. Through partnerships with organizations like Huma Finance, Jia is also making strides in decentralized finance (DeFi), creating opportunities for borrowers to maximize their financial potential.
Founded by a team of experienced ex-Tala executives, Jia’s mission is to revolutionize small business financing, providing African entrepreneurs with the necessary resources to thrive. With the support of investors, Jia aims to empower local enterprises, bridge the funding gap, and drive sustainable economic growth across Africa.