Business

Ugochukwu Aronu, founder of  XEND FINANCE, GLOBAL leading Block Chain DeFi Start Up

 

As Xend Finance has become the fastest growing blockchain start-up out of Africa, the spotlight has been cast on its founder and CEO, and questions have been raised about the brain behind the development of this ground-breaking platform.

Ugochukwu Aronu was born and raised by a paediatrician (mother) and a chartered accountant (father).  in a peaceful and secure city in Enugu, eastern Nigeria. However, he spent the majority of his vacation in Lagos (western part of Nigeria) which was where his “hustle” attitude was fostered.

He attended the University of Nigeria, Nsukka, where he studied Electronic Engineering. In late 2016, he learned about blockchain from a co-worker who was pursuing his master’s degree at the University of Jyvaskyla in Finland.

He learned that he could develop code and install programs on the blockchain, which is both complex and revolutionary. He began looking for websites that stored cryptocurrencies such as Bitcoin and Ethereum and came upon Blockchain.info, which he credits as an early source of inspiration. He started designing his Bitcoin wallet from the ground up while developing some test DApps. This gave him a better understanding of how it functioned.

While in the university, he interned at KPMG Nigeria as a Vulnerability Assessment and Penetration Tester. When he graduated, he worked as a Software Engineer at Lloydand Business Services until 2016 when he founded his first company, Ugarsoft, an ICT consulting firm. He also co-founded Ogwugo, the first Nigerian e-commerce platform to accept Bitcoin for payments. Ogwugo fast reached self-profitability and also received a $20,000 grant from Ford Foundation.

In 2018, he co-founded both Wicrypt and Quiva Games. Both were built on blockchain technology and quite successful ventures obtaining both grants and due recognition around the continent. He also worked as the Chief Technical Officer at Oma cabs from 2018 – 2019 after which went ahead to co-found Xend, an African end-to-end merchant solution that includes inventory management, payments, and business intelligence.

In 2020, he built on the success of Xend and his previous successful endeavours and founded Africa’s first DeFi platform, Xend Finance. The platform allowed individuals, businesses and cooperatives to save their money in stable digital currencies and earn interest while doing so. It protects users’ savings from devaluation, helps control expenses amongst several other benefits.

Ugochukwu through his ingenuity and innovative prowess has utilised blockchain technology to create and provide an array of solutions to the problems that face the average man. He is accelerating the adoption of the blockchain across Africa.

 

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