Nigerian fintech startup, Carbon, is expanding to Kenya

·
August 30, 2019
·
1 min read

It appears Carbon (formerly Paylater), a Nigerian-based fintech startup that started as a loan offering platform, is launching in Kenya soon.

Earlier in the year, the startup secured a $5 million debt financing to gain more customers in Nigeria as well as fund its expansion to other African markets.

Shortly after securing the funding, OneFi -- Carbon's parent company -- acquired a payment solution, Amplify, and in addition to providing loans, Carbon now offers fund transfers and bill payments.

Backing words with action, the CEO, Chijioke Dozie, tweeted two days ago that the company is looking to hire a country manager to help launch operations in the East African country.

Advertisement

Last month, the company made its audited financials public, something that is uncommon with private companies in Nigeria.

After stating that Carbon will continue to make its financials public, Chijioke reiterated that one of the reasons for posting its pre-public financial records was that being straightforward about the startup’s financial position will attract top talents.

“From a recruitment perspective, we want recruits to know we have good prospects — that this is a company that’s doing well and wants to keep doing well,” he said.

With the planned expansion to Kenya, Carbon will have its operations in three countries, including Ghana and of course, Nigeria. The startup is also eyeing further expansion across the continent.

Don't miss out on Africa's financial revolution

Keep up with the rapid pace of innovation in Africa's fintech landscape with Fintech Today. Designed for quick consumption, our exclusive newsletter, trusted by over 1,000 industry leaders, delivers the latest insights, trends, and breakthroughs right to your inbox.
Fintech Today

Give it a try, you can unsubscribe anytime. Privacy Policy.

Join over 3,000 founders and investors

Subscribe to the Equity Merchants newsletter and start receiving tips and resources for startup success.
Equity Merchants form

Give it a try, you can unsubscribe anytime. Privacy Policy.

Endlessly amused by technology. @ulonnaya
Endlessly amused by technology. @ulonnaya
Endlessly amused by technology. @ulonnaya

Other Stories

43b, Emina Cres, Allen, Ikeja.

 Techpremier Media Limited. All rights reserved
magnifier