Nigerian fintech startup Carbon launches operations in Kenya

Nigerian fintech startup Carbon has launched in Kenya, allowing Kenyans to access instant loans of between KES 500 (US $ 50) and KES 50,000 (US $ 500) via their mobile phone using their phone number. identification and a selfie.

Consumer loan platform Carbon, which renamed in april as parent company OneFi continues to transform into a fully digital banking platform after having $ 5 million in debt financing and acquisition of a Nigerian payment start-up Amplify, has been busy expand its offer, and is now heading into new markets with its launch in Kenya.

In addition to its loan service, the Carbon app also allows users to access payment services to pay utility bills and purchase airtime. Other features include cashback and loan top-up, Carbon plans to introduce more features in the coming year. Carbon is fully integrated with various Kenyan partners, including Transunion CRB and M-Pesa, and will also provide services to SMEs.

“This expansion provides an opportunity to bring lessons to Kenya from other successful African fintech markets. It also allows us to explore what has made the financial services sector in Kenya successful and how that success can be replicated in other markets, ”said Chijioke Dozie, CEO and co-founder of Carbon.

“Our vision is to be a pan-African digital bank for Africans and Africans in the Diaspora. Providing our services in Kenya is the first step in realizing this vision and truly delivering the financial services Africans at home and abroad need to thrive and excel.

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