Jia reports completing a Seed investment deal to fund its blockchain network for SMEs servicing in Kenya while it continues to bid for global expansion which will be catered for at the next investment deal. The Seed fundraising session Jia led closed at a $4.3 million deal that got the FinTech startup company to consider exploring other significant markets in Africa and beyond the continent.
The blockchain-focused FinTech company turns crypto liquidity into working capital for small businesses operating in significant markets. Jia employs an automated underwriting model to evaluate potential growth in a liquidating business which clarifies why the FinTech startup for SMEs got an additional $1 million commitment for on-chain liquidity.
Jia currently operates in Kenya and the Philippines, yet the start-up FinTech provider bids to explore other significant markets in West Africa, then move towards Asia and the American continent. However, the Seed investment will alter the start-up narcissistic FinTech solutions that offer rational interest rates on loans to SMEs
Jia’s blockchain-enabled loan infrastructure offers interest rates based on its revenue standard and the agreement with the borrower/SME. The FinTech start-up CEO Zach Mark said that SMEs drive the economy and they deserve to own a piece of it.
Jia provides loans of up to $5,000 to small businesses filling the gap currently left by digital lenders and loan apps that don’t offer credit of more than $1,000. The Kenya market has influenced the start-up FinTech provider to notice other significant markets in Africa – especially the Western region hosting populous SMEs that sought more than $5000 in loans.
“This makes it difficult to serve a proper business use case because if you want to grow, you need more money and for longer durations.” Mark said that “the loans range in size from $200 up to $5,000 …they are competitively priced. We charge about a third the interest rate of the typical consumer fintech lender.”
Jia gives entrepreneurs anywhere in the world power to control their financial status. The start-up FinTech provider provides blockchain-based financing to businesses in emerging markets and rewards them with ownership, enabling them to create wealth and prosperity for themselves and then rubs off on family and friends.
Mark disclosed that TCG Crypto led the Seed rounds that impacted other generous offerings from the likes of BlockTower, Hashed Emergent, Saison Capital, and Global Coin Research. Other angel investors also participated in the Seed round Jia hosted including Packy McCormick, Canonical Crypto, Fundera, and CircleUp.