Gate News message, April 14 — Nigerian fintech startup Carbon, formerly known as Paylater, is expanding into Kenya, marking its second African market outside Nigeria. CEO Chijioke Dozie announced on Twitter on August 28, 2019, that the company is recruiting a country manager with local knowledge and financial services or fintech experience to launch operations in Kenya.
The expansion follows Carbon’s $5 million loan from international lending platform Lendable earlier in 2019, its acquisition of AmplifyPay, and its rebranding and full transition into a digital bank in March. In May, the company expanded its loan-offering services to Ghana.
Carbon’s entry into Kenya will put it in competition with local fintech startups including Musoni and INuka Pap. The company has previously announced plans to launch digital banking services in three additional countries.
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