Carrot Credit Secures $4.2M Seed Funding to Amplify Lending in Africa

Carrot Credit, a Nigerian fintech founded by Bolu Aiki-Raji in 2023, has raised $4.2 million in seed funding led by MaC Venture Capital with participation from Authentic Ventures. The company provides loans backed by digital assets such as stocks, ETFs, and cryptocurrencies, allowing users to borrow against their investment portfolios without selling them. The funding will support Carrot's expansion across Africa, focusing on scaling its credit infrastructure and integrating with digital investment platforms. Carrot's innovative lending model differentiates it from competitors by offering flexible repayment options and below-market interest rates. The startup aims to make credit more accessible to retail investors in Africa who may not have recognized investments as collateral. The approach could potentially open credit avenues for a new generation of investors as the company's B2B2C model targets fintechs, brokerages, and digital wealth managers across the continent.