The fintech solution was launched by founders with over 20 years of experience in the African financial sector. With their experience in the industry, they know the challenges faced by populations when accessing the services offered by traditional financial institutions. So they set Carbon to address those challenges. 

Carbon is a fintech solution developed by the Nigerian start-up OneFi. It allows access to digital banking services. The startup behind the solution is based in London and Lagos. Founded in 2012 by Chijioke Dozie and Ngozi Dozie, it has raised over $15 million in VC funding to accelerate its growth in Africa. 

Through its mobile app -available for Android and iOS devices, users can register their account in just a few minutes and start accessing its services.  Carbon also has a USSD code for potential users living in areas with no or poor access to the internet. 

Among other things, the fintech allows users to pay bills, transfer money or get loans instantly. It has even integrated a feature that allows users to exchange messages when closing deals.  

Every deposit on the platform is insured by the Nigeria Deposit Insurance Corporation. In other words, the insurance company protects depositors and guarantees the settlement of insured funds should the fintech solution become unable to refund deposits. In 2021, it signed a contract with Visa to issue digital and physical debit cards.

“Carbon is focused on delivering an unparalleled banking experience that is both safe and reliable across all touchpoints.[...] We want more customers to enjoy some of our popular products like Carbon Zero through their Carbon card, and the key to achieving this is our partnership with a leading payment and fintech-friendly company like Visa,”   said Chijioke Dozie at the time.

In 2020, the fintech claimed about 659,000 customers and over $241.35 million in transactions processed. In addition to Nigeria, Carbon has a presence in Kenya and Ghana. Its ambition is to become a pan-African digital bank for Africans and the diaspora.  The Android version of its app has already been downloaded more than a million times.

Adoni Conrad Quenum