Carrot Raises $4.2M in Seed Funding
Summary
Carrot, a Lagos, Nigeria-based digital lending startup expanding access to credit for African businesses and individuals, raised $4.2M in Seed funding. The company intends to use funds funds to grow its team, scale operations and accelerate product development, including investments in AI to enhance its credit scoring, risk management and fraud prevention systems. Founded in 2020 by CEO Bolu Aiki-Raji, Carrot Credit is a provider of a digital lending platform that offers users access to credit using digital financial assets. By integrating with platforms where users already manage assets like stocks and ETFs, it provides an experience that enhances access to credit without requiring users to leave the tools they already use. Since launch, the company has originated over $2 million in credit and served over 10,000 users.