Nigerian fintech startup Carrot has secured $4.2 million in seed funding to scale its asset-backed lending platform across Africa. The round was led by MaC Venture Capital, with support from Partech Africa and Authentic Ventures.
Founded in 2023 by Boluwatife (Bolu) Aiki‑Raji, Carrot empowers users to access credit without selling their investments. By linking directly to users’ digital portfolios—including stocks, ETFs, bonds, and crypto—Carrot allows borrowers to unlock liquidity based on the type of asset: up to 70% of fixed-income assets, 40% of stable stocks, and 10% of high-volatility holdings.
Carrot places a lien on the assets using API-based integration, ensuring users retain ownership. Repayment options include 3-, 6-, and 12-month plans or flexible monthly installments, with interest rates designed to stay below conventional lending benchmarks.
Since launch, the platform has served over 10,000 users and disbursed more than $2 million in loans in Nigeria alone.
The new funding will fuel:
- Team expansion
- Technology upgrades, including AI-powered credit scoring and fraud detection
- Geographic growth, with deeper integrations across brokerages, fintech platforms, and digital wealth managers throughout Africa.
Says Aiki‑Raji:
People in Nigeria and across Africa are already investing in digital assets—but there’s no ecosystem to help them unlock liquidity when it matters. Carrot is building that bridge.
Marlon Nichols, Co-founder and Partner at MaC Venture Capital, added:
Carrot is redefining access to credit by transforming investment portfolios into loan collateral—something that’s long overdue in African markets.
Carrot’s embedded B2B2C approach positions it as a transformative solution in African fintech, bypassing the traditional reliance on income verification or credit history. Instead, it leverages the growing pool of digital asset holders—offering low-barrier, flexible credit in markets where formal lending is often inaccessible.
With this $4.2 million round, Carrot is poised to lead a new generation of credit infrastructure in Africa—rooted in ownership, powered by technology, and driven by inclusion.
Numeris Media is official Media Partner to GITEX Nigeria x AI Everything Nigeria
[03 – 04 September, 2025 – Lagos]