In today’s emerging markets, starting and running a business is possible by having a combination of the right technology, payment infrastructure, legal obligation and access to affordable finance.
Unfortunately, banks and other financial service providers have not been able to meet the demands for an efficient and accessible technology platform that will help businesses meet their strategic goals and objectives faster. This is evident in the high cost of sending money from most traditional banks.
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Carbon – Nigeria’s foremost digital financial services provider is solving these problems with our platform: “Carbon For Business”
The Carbon for Business platform is available to all businesses who are looking for a more flexible and affordable way to improve their value proposition, solve their technology problems, and grow their business.
The platform offers businesses access to services like:
SME business loans: Businesses can access up to ₦20 million uncollateralized flexible repayment loans in less than 48 hours.
Fund transfers and overdraft: The platform includes Optimus, an affordable and reliable funds transfer platform that provides low-cost transfers. For qualified businesses, Optimus also provides access to cash in the form of overdrafts so you can keep transferring funds even when your balance is zero.
Identity verification: Carbon IVS is an identity verification system that enables businesses to maintain KYC compliance, fight fraud and onboard customers faster. Carbon IVS is connected to almost all the official government databases in the country spanning over 120m records.
“ As part of our goal of connecting businesses with the funds and services that will enable them to thrive and expand, we are aiming to provide robust infrastructure and a suite of services that will transform their processes. Carbon for Business will signal a new era of business growth and transformation, especially for businesses that have been overwhelmed by complexities and rigidity of mundane financial services technologies and traditional sources of financing.”
Chijioke Dozie, CEO of Carbon
Since launching in 2016, Carbon has amassed more than 1 million users. It provides consumers with access to credit, simple payments solutions, high-yield investment opportunities and easy-to-use tools for personal financial management. The company has disbursed more than ₦23.1 billion in loans and in 2019 alone and achieved revenues of $17.5 million.
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This expansion into business-focused users represents Carbon’s next step on the journey of becoming the most versatile digital finance platform, anywhere.
In 2018, according to the World Bank, about 70% of businesses could not access finance from the banks. In Nigeria, Rwanda, Kenya and Tanzania, the share of SME lending in the overall loan portfolios of banks varies between 5% and 20%, and 45% of businesses in emerging markets lack access to the right technology partners.
One key problem businesses face is liquidity and access to cash flow over weekends and long settlement cycles. Leveraging Optimus on the Carbon For Business infrastructure will allow them to disburse funds at a far lower rate than the banks, and also provide them with overdrafts to keep their businesses afloat during these periods.
Are you a business with a need for quality financial services, and the tools needed to grow? Visit www.business.getcarbon.co now to get started.
Featured Image Source: Carbon
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