Carrot Credit Raises $4.2M to Scale Asset-Backed Lending Across Africa
TLDR
- Carrot Credit has raised $4.2 million in seed funding to expand across Africa
- The round was led by MaC Venture Capital, with participation from Authentic Ventures
- The platform has processed over $2 million in loans for more than 10,000 users
Carrot Credit, a Nigerian fintech enabling loans backed by digital investment assets, has raised $4.2 million in seed funding to expand across Africa. The round was led by MaC Venture Capital, with participation from Authentic Ventures.
Founded in 2023 by Boluwatife Aiki-Raji, Carrot Credit lets users borrow against assets like stocks, ETFs, bonds, and crypto without selling them or undergoing traditional credit checks. Through API integrations with digital investment platforms, the company verifies portfolios and places a lien on assets to issue loans, up to 70% for fixed-income assets and 40% for stable stocks.
Carrot charges below-market interest rates and offers flexible repayment terms ranging from three months to one year. The platform has processed over $2 million in loans for more than 10,000 users. The company’s embedded B2B2C model serves fintechs, brokerages, and digital wealth platforms.
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Points clés à retenir
Carrot Credit is reshaping retail credit access in Africa by allowing users to borrow against their investment portfolios, a model popularized globally by firms like BlockFi and SALT but largely untapped on the continent. By turning digital assets into usable collateral, Carrot is unlocking liquidity for everyday investors without forcing asset sales or relying on traditional credit scoring. The startup’s B2B2C strategy positions it to scale through fintech partnerships, tapping into Africa’s growing digital investment user base. With flexible repayment options and a focus on financial inclusion, Carrot could help redefine how credit is extended in Africa’s emerging markets.
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