Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5million in full-year 2019
TUE, JUN 30 2020-theG&BJournal- Nigeria’s leading digital financial services company, Carbon (https://getCarbon.co), has released its 2019 financial statements audited by KPMG, detailing its product growth and $17.5 million in revenue.
Carbon began operations in 2012 and within the space of six years, it grew revenue steadily, reaching an all-time high of $17.5 million in full-year 2019. In the same year, Carbon expanded its product offerings to the Kenyan market and its disbursement volumes have grown from N13 billion (2018) to N23 billion.
Carbon’s operation in the year under review also sees its Loan top-up volume grow to 26,432 with N132.6 million Cash back disbursed to 93,699 beneficiaries. Bill payments value and bill payments volume is equivalent to 5.5 million transactions and 51 billion payment volume. Its investments value and volume now totals N2.8 billion.
Formerly called Paylater, Carbon pioneered instant lending in Nigeria and was the first mobile app to provide access to credit digitally and without requesting individuals to present the documents and collateral traditionally associated with accessing loans.
Earlier this year, Carbon introduced its iOS app and USSD (*1303#) service. It also announced its Disrupt Fund, a $100,000 Pan-African fund to address the lack of capital for African tech startups.
“The company will continue to share its audited financials annually, thus upholding a culture of transparency and accountability,” says Ngozi Dozie, Founder of Carbon.
So far this year, Carbon has introduced multiple new features for its customer base including Carbon Express: a keyboard allowing users to make payments from any social app, periodic investments, free bank transfers, monthly wallet interest, and more.
Carbon also plans to introduce debit cards, a reward program for loyal customers and SME accounts for entrepreneurs, in the months to come.
‘’It’s been a challenging year so far for the world with the COVID-19 pandemic. We’ve been deeply concerned about the rapid spread of the virus globally and the negative economic impact it has had so far,’’ the company said. And with that in mind, Carbon began loan rescheduling for customers who are experiencing difficulties with repayments in these trying times.
So far, 9,016 loans have been rescheduled for ”our customers and we’ll continue to support all who need assistance,’’ Carbon said.
|twitter:@theGBJournal|email: info@govandbusinessjournal.com.ng|
