Carbon, a consumer-facing lending platform by Nigerian parent company, OneFi, has announced its launch 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.
Since launching in 2016, Carbon has over 1.8 million users since launch with revenues of more than USD 35.6 mln in disbursed loans. The company recently raised USD 5 million and acquired Nigerian payments startup, Amplify, as it moves into new markets.
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