The Carbon Banking!
This is from TC Daily newsletter. From all angles you look at it, Carbon (formerly Paylater) is emerging as a digital-bank which is not a bank. Converting into a bank in the future will certainly be easier.
Nigerian fintech startup, Carbon has launched a financial services platform targeted at businesses. Carbon for Business will provide payment APIs to businesses so they can receive online payments from Visa, Verve and Mastercard. It will also provide loans of up to ₦20 million to SMEs and an overdraft facility for qualified businesses. Furthermore, it launched CarbonIVS, an ID verification platform for businesses to perform KYC. The launch of Carbon for Business follows the company's partnership with Open Banking Nigeria. The startup first started in 2016 as a consumer lending platform. It added investment and payment services after closing a US$5 million round earlier this year.