Carrot Credit

What Carrot Credit does

Carrot Credit, operated by Carrot Digital Solutions Limited, is a Nigerian fintech founded in 2023 that provides digital asset-backed lines of credit to retail investors and businesses in Africa. The company serves two distinct customer segments: (1) individual retail investors who hold stocks, ETFs, bonds, and cryptocurrencies on partner investment platforms and need short-term liquidity without liquidating their portfolios, and (2) fintech, wealth management, and digital banking partner platforms (including Bamboo, Trove, getEquity, and Afex) that embed Carrot's credit product to retain assets under management and enhance user stickiness.

The core technology is an asset-backed lending platform that connects directly to users' investment accounts on partner platforms to evaluate portfolio composition and marketability in real time, enabling credit decisions without traditional credit scoring. Carrot extends credit lines up to 70% of eligible asset value, capped at $20,000, with a minimum monthly repayment of 6% (3% interest plus 3% principal). The company employs a "Redline" collateral maintenance mechanism requiring the borrower's digital assets to remain above the loan value on the partner platform, mitigating downside risk for Carrot. The platform is accessed exclusively through partner integrations, making the model strictly B2B2C.

Carrot's revenue model combines interest income on outstanding credit lines (a subscription-like recurring stream) with partner-side origination fees, interest spreads, and partnership incentives. The company sells a turnkey white-label lending solution to enterprise partners, managing approvals, risk assessment, customer support, and repayments end-to-end. As of May 2025, the platform had processed over $2 million in loans across 10,000+ users, and had just closed a $4.2 million seed round led by MaC Venture Capital with Partech Africa and Authentic Ventures to fund expansion across Africa beyond Nigeria.

Name

Carrot Credit

Legal name

Carrot Digital Solutions Limited

Website

https://carrotcredit.com

Company type

Private

Founded year

2023

Operating status

Operating

Headcount range

11–50 employees

Short description

Carrot Credit is a Nigerian fintech founded in 2023 that offers digital asset-backed lines of credit to retail investors and businesses, enabling borrowing against stocks, ETFs, and crypto held on partner platforms without liquidation.

Ownership category

akta.pro rank

Product category

Digital Consumer Lending

NAICS

Other Nondepository Credit Intermediation (52229), Nondepository Credit Intermediation (5222)

SIC

Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141)

akta.pro primary industry

Collateral-Based Lines of Credit (Secured Revolving) (FSAKALAH)

akta.pro secondary industry

Crypto-Backed Business / SME Loans (Secured) (FSADAFAH)

Keywords

• Digital asset lending
• Asset-backed credit
• Consumer credit lines
• Embedded lending platform
• Investment collateral lending

Headquarters

HQ city

Abuja

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales

Revenue model

1. Interest Income: Carrot earns interest on the credit lines extended to users. The minimum monthly repayment is 6% which includes both a 3% interest rate and 3% repayment of principal. Interest rates vary based on partner platform.
2. Partner Origination Fees: Partners can earn from origination fees, interest spreads, or partnership incentives when they bring users to the platform.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels4 records

Core offering

Carrot Credit is a Nigerian fintech that provides digital asset-backed lines of credit to retail investors. Users connect their investment accounts on partner platforms (Bamboo, Trove, getEquity, Afex) and borrow up to 70% of their digital asset value (stocks, ETFs, bonds, cryptocurrencies, cash) without liquidating their holdings. Carrot also offers a B2B partner integration product that enables fintechs, wealth platforms, and digital banks to embed asset-backed credit for their end users while preserving Assets Under Management.

Product overview

Carrot Credit operates as a unified digital lending platform with two primary product lines: a direct-to-consumer credit line for individuals (allowing borrowing against digital assets) and a B2B partner integration module for fintech platforms. The core product connects to partner investment platforms (Bamboo, Trove, Afex, getEquity) to access user asset data and extends credit lines of up to 70% of portfolio value, with repayment structured at 6% monthly (3% interest + 3% principal). Users can access up to $20,000 in credit.

Differentiator

Problem solved

Functional benefit

Products and services

• Carrot Credit Line (For Individuals) A digital line of credit collateralized by users' digital assets (stocks, ETFs, bonds, cryptocurrencies, cash) held on partner platforms. Users can borrow up to 70% of their asset value (capped at $20,000) without liquidating holdings, with a 3% monthly interest rate and a 6% minimum monthly repayment. Designed for retail investors who need liquidity without selling investments.

Quantifiable outcome

• Processed over $2 million in loans
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

AI capability1 record

Feature3 records

Partnerships

Four partnerships are on record, tiered core.

• BamboocoreChannel Partner/ Reseller/ DistributorInvestment platform partner where users can access Carrot's credit line using their stocks and ETFs as collateral. Bamboo is one of the primary partner platforms through which users sign up.
• TrovecoreChannel Partner/ Reseller/ DistributorPartner platform for digital asset investments. Trove users can access Carrot's credit services using their investment holdings as collateral.
• getEquitycoreChannel Partner/ Reseller/ DistributorPartner investment platform. getEquity users can access Carrot's asset-backed credit line using their portfolio holdings as collateral.
• AfexcoreChannel Partner/ Reseller/ DistributorPartner platform providing investment access. Afex users can access Carrot's credit services using their digital assets as collateral.

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• BlockFi: BlockFi was a major crypto-backed lending platform offering USD loans collateralized by digital assets. Highly comparable to Carrot's core product of asset-backed lines of credit, though BlockFi operated at much larger scale in the US before its bankruptcy.
• Nexo: Nexo is a global digital asset lending platform offering crypto-backed loans and lines of credit. Directly comparable to Carrot's model of using crypto and digital assets as collateral for credit, though Nexo operates at significantly larger scale with a broader product suite.
• Ledn: Ledn offers Bitcoin and USDC-backed lending products to retail and business clients. Closely comparable to Carrot's asset-backed credit line model, with similar focus on using digital assets as collateral for liquidity access without liquidation.
• YouHodler: YouHodler provides crypto-backed loans with LTV ratios and fiat off-ramps. Comparable to Carrot in providing collateralized credit lines using digital assets, with similar product mechanics of stablecoin/fiat disbursement against crypto collateral.

Regional players

• Yellow Card: Yellow Card is a major African cryptocurrency exchange operating across multiple countries including Nigeria. Comparable as a Pan-African digital asset platform serving similar customer demographics, though focused on exchange rather than credit.
• Patricia: Patricia is a Nigerian fintech offering crypto trading, gift cards, and peer-to-peer transactions. Comparable as a Nigerian digital asset platform serving similar customer segments, though focused on trading rather than credit.
• Carbon (formerly Paylater): Carbon is a Nigerian digital lending platform offering personal loans and credit to consumers. Comparable as a Nigerian fintech lender serving similar customer demographics, though focused on traditional credit scoring rather than asset-backed lending.
• FairMoney: FairMoney is a Nigerian and emerging markets digital lender offering consumer and SMB loans via mobile. Comparable as an African fintech lender targeting similar customer segments, though using traditional underwriting rather than asset-backed models.
• Renmoney: Renmoney is a Nigerian consumer and SME lender. Comparable as a Nigerian lending company serving similar demographic segments, though focused on traditional salary-based and SME lending rather than digital asset collateral.

Emerging players

• Bamboo: Bamboo is a Nigerian investment platform for US stocks and ETFs, and a current Carrot partner. Comparable as part of the same ecosystem enabling African retail investors to access digital assets that can be used as collateral—Bamboo could potentially build competing credit features.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/getcarrotcredit
• Instagraminstagram.com/getcarrotcredit

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors3 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carrot Credit