Nigerian lending platform Carbon has taken a significant stride in its mission to empower small and medium-sized enterprises (SMEs) by acquiring fintech startup Vella Finance. This acquisition, completed through its parent company One Credit Limited, underscores Carbon's commitment to providing advanced financial services to SMEs, leveraging cutting-edge artificial intelligence (AI) technology.

Unlocking New Opportunities for SMEs

Chijioke Dozie, co-founder of Carbon, highlighted the company's pioneering role in revolutionizing consumer finance in Nigeria since 2016. With the acquisition of Vella Finance, Carbon aims to extend its reach to SMEs across Africa, offering comprehensive banking and financial infrastructure tailored to their needs.

Transitioning to Carbon Business

Following the acquisition, Vella Finance will transition its business customers to Carbon Business, while individual customers will have the option to upgrade to business accounts. This strategic move aligns with Carbon's commitment to delivering optimal user experiences and empowering businesses during challenging times.

Launch of AI-Powered Business Banking Platform

In tandem with the acquisition, Carbon has launched an AI-powered business banking platform, signaling its dedication to leveraging AI technology for SMEs' benefit. Ngozi Dozie, co-founder of Carbon, emphasized the company's goal of democratizing AI usage, making it accessible to businesses of all sizes.

Key Features of the AI-Powered Platform

The new platform offers a range of features designed to enhance financial management and decision-making for SMEs:

1. AI-Powered Transaction Analysis: Gain deep insights into financial transactions to inform growth strategies.

2. Competitive Low-Interest Loans: Access loans with favorable interest rates to support business aspirations.

3. Sub-Accounts for Financial Organization: Simplify financial management with sub-accounts for various purposes.

4. Automated Income Splitting: Set automated rules for fund allocation to different sub-accounts, ensuring financial planning efficiency.

5. Team-Based Account Management: Collaborate with team members on account management for enhanced efficiency.

6. Integration and User-Friendly Interface: Seamlessly integrate the platform into existing business systems with a user-friendly interface for smooth adoption.

Empowering SMEs with AI Insights

Ngozi Dozie reiterated Carbon's commitment to sharing AI insights with its customers through webinars, newsletters, and guides. In a landscape where talent and resources are limited, AI becomes a valuable tool for SMEs, offering unparalleled capabilities to drive growth and efficiency.

A Vision for SME Growth

With the acquisition of Vella Finance and the launch of its AI-powered banking platform, Carbon is poised to lead the charge in empowering SMEs across Africa. By harnessing the power of AI technology, Carbon aims to unlock new opportunities, streamline financial operations, and drive sustainable growth for SMEs in the region.