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The African digital lending platform Carrot has completed a $4.2 million seed round financing.
According to Gate News bot, Crowdfund Insider reported that the African digital lending platform Carrot has completed a $4.2 million seed round of financing, led by MaC Venture Capital, with co-investment from Partech Africa and Authentic Ventures.
Carrot offers innovative lending services, allowing users to use various assets such as stocks, fixed income products, and cryptocurrencies as collateral to obtain credit. The platform is dedicated to addressing the issues of incomplete traditional credit scoring systems in the African market, providing reliable financing channels for individuals and small businesses.
Since the platform went live, it has issued over 2 million dollars in loans, serving more than 10,000 users. This round of funding will be used for team expansion, business development, and product development, with a focus on investing in artificial intelligence technology to enhance credit scoring, risk management, and fraud prevention capabilities.
Bolu Aiki-Raji, the founder and CEO of Carrot, stated that the company plans to expand its operations to other African countries by the end of 2025.
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