FUNDINGUpdated 2 months ago

Carbon Nigeria

Carbon (Paylater): Nigerian digital lender. 5M+ app downloads. Reported net income NGN 201M (~USD 478K) FY2022. Pivoted from standalone lending to diversified financial services platform.

English, French, Portuguese or Arabic, machine translated, with the original kept beside it.
Key Information
Organisation
Carbon (Paylater)
Location
Nigeria, Nigeria
Status
Open
Application Deadline
Rolling
Type
Microfinance
Amount
NGN 1,500 to 1,000,000
Size
small
Language
English
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Description

Carbon (formerly Paylater) is a Nigerian digital financial services company that started as a standalone digital lender and has since pivoted into a diversified financial services platform offering savings, payments, lending, and investment products. The company has more than 5 million cumulative app downloads. Carbon publicly disclosed financials in 2018 and 2019 reporting cumulative profits exceeding USD 700,000, and after a two-year gap, revealed a net income of NGN 201 million (approximately USD 478,500) for the financial year ending June 30, 2022. Carbon represents one of the more capital-efficient African fintechs.

Focus Sectors

Microfinance, Consumer Lending, Digital Banking