Carbon
Empowering individuals with access to credit, banking, and wealth services
What it does
Carbon (originally Paylater) was founded in 2012 by Chijioke Dozie and Ngozi Dozie to pioneer instant digital lending across Nigeria. The platform expanded from micro-loans into a full-fledged digital bank offering debit cards, high-interest yield accounts (PayVest), buy-now-pay-later tools, and SME credit. It is widely recognized as a benchmark pioneer for African digital credit platforms.
Consumer / retail lendingDigital / challenger banks (neobanks)Bill payments & aggregatorsCard issuing & managementInvestment / brokerage platforms
Known for
- Pioneering instant online lending app (Paylater)
- PayVest investment and savings product
- Carbon Zero Buy-Now-Pay-Later tools
- Licensed MFB digital banking ecosystem
Model & industry
SaaSEmbedded FinanceAll / Cross-industry
Funding history
$5.0M
Total raised
1
Rounds
Debt
Latest stage
2019
Latest year
| Date | Stage | Amount | Lead investor |
|---|---|---|---|
| 2019-03 | Debt | $5.0M | — |
Source: Condia Funding Tracker
Products & subsidiaries
Carbon App · Digital Bank & Credit AppCarbon Zero · Buy-Now-Pay-Later (BNPL)Carbon Investments (PayVest) · Fixed Savings
Acquisitions
- Vella Finance (2024). Acquired to bolster SME business banking and cross-border trade offerings.