The Nigerian financial technology company,
The relaunch comes one month after One Finance (OneFi), owner of the
“It was very deliberate, most of our customers only know us as
This transition is set to lay the foundations for Carbon’s focus on providing a wide portfolio of services for its customers, as it introduces in-app credit reports and provides credit via QR codes, in partnership with Visa.
The company also plans to provide health insurance for its customers as it looks to lessen the burdens Nigerians currently face in accessing and paying for health care. In the near future, Carbon will also launch its virtual Visa card for customers to handle transactions.
“We’re in a competitive space but whoever serves the customer best will reap the rewards. That’s been the thinking behind our product evolution, whether it’s our Bloom account targeted at female entrepreneurs or the partnerships we’ve been working on in the healthcare sector. The focus is on being attentive to what our customers want and need,” co-founder Ngozi
Since PayLater’s launch in 2016, the platform has approved over 1500 loans daily at an average of $80 per loan; disbursing over $60 million across 750,000 loans.
In 2017, the lender was one of three African startups selected to join the fifth class of Google’s Launchpad Accelerator. In the same year, they were also one of 20 finalists of the Ecobank Fintech Challenge. In 2018,