February 16

Nigeria’s Carbon Buys Vella Finance for AI-Powered Business Banking

Nigerian digital bank Carbon has acquired Vella Finance for the launch of an AI-powered platform for SMEs. Financial terms were not disclosed.

Launched in 2016, Carbon’s focus is on providing Nigerians with access to credit in the form of instant loans and a BNPL offering. It also offers savings plans and a debit card.

Photo courtesy of Olumide Bamgbelu.

Source: FinExtra (link opens in a new window)

Finance, Technology
artificial intelligence, business development, digital payments, financial inclusion, fintech, lending, mobile finance, MSMEs, remittances