Nigerian Fintech Carrot Credit Raises $4.2M to Offer Loans Using Digital Investments as Collateral
- Carrot Credit secured $4.2 million in seed funding led by MaC Venture Capital.
- The platform allows users to obtain loans by pledging their digital investments as collateral.
- Users can access up to 40% of their stock portfolio’s value or up to 70% of fixed-income assets.
Carrot Credit's innovative approach to leveraging digital investments as collateral presents a significant opportunity to disrupt traditional lending models in Africa. By addressing the needs of a digitally savvy population, Carrot not only enhances financial inclusion but also challenges the conventional credit scoring system, which often excludes many potential borrowers. This model could serve as a blueprint for other fintech startups looking to innovate in emerging markets.
