Carbon, A Pan-African Digital Bank for Africans, Launches in Kenya

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Carbon, a consumer-facing lending platform by Nigerian parent company, OneFi, is now operational in Kenya.

The Kenyan launch marks a major milestone in East Africa for digital-only banking services. Carbon is fully integrated with various Kenyan partners including TransUnion CRB, and M-PESA, allegedly making it the first truly digital-only banking platform.

The Carbon app will enable users access payment services to pay utility bills, transfer money, get 5-minute loan services, cashback, and loan top-ups. The app also allows users to invest with Payvest and earn up to 16% per annum interest rates.

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Speaking about the Kenyan launch, Chijioke Dozie, CEO, Carbon, said:

“This expansion presents an opportunity to bring some learnings from other African successful fintech markets to Kenya. Our vision is to be a pan-African digital bank for Africans and Africans in the diaspora. Taking our services to Kenya represents the first step in realizing that vision and truly delivering financial services that Africans at home and abroad need to thrive and excel.”

Since launching in 2016, Carbon has over 1.8 million users since launch with revenues of more than $35.6M in disbursed loans. The company recently raised $5 million and acquired Nigerian payments startup, Amplify, as it moves into new markets.

 

 

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