Carbon

Carbon's story began in 2012, when the company was established as One Credit. It later entered the market under the Paylater name, building its early reputation around digital lending and the provision of quick personal loans through technology. As the range of services expanded beyond credit, the company adopted the Carbon name in 2019.

Credit remains central to the Carbon proposition. The company's current platform describes itself as a credit-led digital bank and offers personal loans without collateral or a guarantor, ranging from ₦2,500 to ₦1 million. But the business has moved considerably beyond its original lending proposition, now offering current accounts, savings products, payments, debit cards and personal finance tools, along with Carbon Zero, a buy-now-pay-later service.

The company's banking operation is conducted through Carbon Microfinance Bank, which Carbon states is licensed and regulated by the Central Bank of Nigeria and insured by the Nigeria Deposit Insurance Corporation. Carbon has also extended its services into the business market through Carbon Business, which provides business accounts, bulk payments, collections, sub-accounts and invoice financing.

Carbon's evolution reflects a wider change in Nigeria's digital financial services market. The company entered through a clearly defined credit proposition, but the modern Carbon platform seeks to keep customers within a broader financial ecosystem, allowing them to borrow, save, spend and make payments from the same digital platform.