Jia, a blockchain-based fintech providing loans to micro and small businesses in emerging markets, has raised $4.3 million seed funding, and an additional $1 million commitment for on-chain liquidity, in a round led by early-stage backer TCG Crypto, with participation from a number of funds including BlockTower, Hashed Emergent, Saison Capital and Global Coin Research.
Angel investors Packy McCormick (the Not Boring founder), Anand Iyer of Canonical Crypto and Jared Hecht and Rory Eakin, the founders of fintech lending companies Fundera and CircleUp, respectively, also took part in the round.
The fintech plans to use the funding to double down on its operations in Kenya and the Philippines before exploring new markets in West Africa, Latin America and Asia.
Jia was founded last year by Zach Marks, Cheng Cheng, Ivan Orone and Yuting Wang, all ex-Tala executives. The startup taps decentralized finance to offer loans to borrowers, who receive tokens after repayment that they can later redeem at a…