This dual announcement marks a significant leap forward in
Carbon’s mission to empower small and medium-sized enterprises (SMEs) with
advanced, accessible financial services that leverage the latest in artificial
intelligence.
“Carbon spearheaded the consumer finance revolution in
Nigeria in 2016. Our goal was to give consumers unprecedented access to finance
from their mobile devices,” said Chijioke Dozie, co-founder of Carbon. “Since
then we have provided some loans to SMEs but not in a manner that meets our
standards or the customers’ expectations. We have known the Vella Finance team
for some time and admired their innovation and understanding of the market
needs. We saw in them the same innovative and pioneering spirit that ignited
Carbon. They had built an SME platform that we believe is unrivaled in the
market and given our aspirations, the deal was a no-brainer”
“This is exciting news for businesses and we are thrilled to
join forces with Carbon,” said Mark Afolabi, co-founder and CEO of Vella
Finance. “These are trying times for businesses in Nigeria and by joining
forces, we can provide businesses a platform that provides AI driven insights
into their transactions, low-cost accessible loans and the power of A.I models
built into the platform to help with any business challenge.
In the coming days, Vella Finance will transition business
customers to Carbon Business and offer individual customers the option to
upgrade to business accounts. This move aligns with our commitment to providing
optimal user experiences during this period, states Gabriel Ajenifuja,
co-founder and CTO of Vella Finance. For the Business owners, Carbon Business
will provide:
- AI-Powered Transaction Analysis: Utilize advanced AI to gain deep insights into your financial transactions, enabling smarter decision-making and growth strategies.
- Competitive Low-Interest Loans: Access loans with interest rates that challenge industry standards, offering financial relief and support for your business aspirations.
- Sub-Accounts for Financial Organization: Easily manage your finances with sub-accounts that simplify reconciliation and accounting processes. You can create accounts for salaries, savings, working capital and many more.
- Automated Income Splitting for Financial Planning: Set rules to allocate a % of funds to go into separate sub-accounts in an automated manner. You can rest easy knowing that your VAT, WHT or savings for a new purchase is taking place every second of the day.
- Team-Based Account Management (in development): Invite team members to collaborate on account management, fostering teamwork and efficiency in financial operations.
- Ease of Integration and User-Friendly Interface: Seamlessly integrate the account into your existing business systems, ensuring a smooth transition and adoption.
Ngozi Dozie, emphasizes the company’s commitment to not just
leveraging AI internally but also sharing these insights broadly: “At Carbon,
we’re pioneering the use of AI across all departments, from accounting and
finance to human resources, operations, and engineering,” said Ngozi Dozie, a
co-founder of Carbon. “All Carbon Business customers will get access to our AI
experience through webinars, newsletters and How-To-Guides. In a time of
limited talent, and resources, AI is a superpower and we are going to share
everything we know.”
How to Get Started:
To experience the future of SME banking and start leveraging
these powerful tools for your business, visit https://getcarbon.co/business and
sign up today. Join the growing community of businesses transforming their
financial operations with Carbon’s innovative solutions.
Carbon Microfinance Bank is a leading digital bank in Nigeria, specializing in consumer credit and banking services for consumers and SMEs. Founded on the principles of innovation and customer-centricity, Carbon is committed to providing seamless financial services through advanced technology platforms, driving financial inclusion and empowering businesses across Africa.
Vella Finance Vella is a fintech company founded by Mark Afolabi, Segun Fagbami, Tolu Adedayo and Gabriel Ajenifuja that offers comprehensive banking and financial infrastructure for local and cross-border payments, targeting SMEs in Africa.
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