Nigerian startup Carbon launches financial services platform for businesses

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Nigerian fintech startup Carbon has launched a digital financial services platform that provides startups and small and medium-sized enterprises (SMEs) with the services and technology they need to build and scale their businesses.

Consumer lending platform Carbon, which rebranded in April as parent company OneFi continues to transition into being a full digital banking platform after raising US$5 million in debt funding and acquiring Nigerian payments startup Amplify, said Carbon for Business offered access to uncollateralised credit, secure online payments, reliable funds transfer and fast KYC compliance obligations.

Using the service, businesses can take advantage of Carbon’s infrastructure to achieve business objectives and strategic goals, boost their value offerings and get to market faster.

“As part of our goal of connecting businesses with the funds and services that will enable them to thrive and expand, we are aiming to provide robust infrastructure and a suite of services that will transform their processes. Carbon for Business will signal a new era of business growth and transformation, especially for businesses that have been overwhelmed by complexities and rigidity of mundane financial services technologies and traditional sources of financing,” said Chijioke Dozie, chief executive officer (CEO) of Carbon.

Since launching in 2016, Carbon has amassed more than one million users, and disbursed more than US$35.6 million in loans. In 2018 alone it achieved revenues of US$10.4 million, with this expansion into business-focused users representing the next step on its journey.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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