, a Nigerian fintech startup, has raised to scale its asset-backed lending platform across the continent. The round, led by with backing from , will support product development, team expansion, and deeper integrations with digital investment platforms.

Founded in , Carrot Credit is tackling a critical gap in the African credit market: access to fair and flexible loans for individuals with digital investment assets. Unlike traditional lenders that require income statements or rely on credit scores, Carrot allows users to —such as stocks, bonds, ETFs, and cryptocurrencies—as collateral to access affordable credit without having to liquidate their holdings.

“People were investing in all types of things—stocks, crypto, fixed income—but many didn’t recognize those investments as worth anything. That was the initial idea: why can’t this be collateral?” said Aiki-Raji.

Through with brokerage and fintech platforms, Carrot connects to users’ accounts, verifies their asset holdings, and places a lien on those assets. Borrowers can then access up to , and up to like government bonds or treasury bills. In the case of more volatile investments, such as crypto or high-risk stocks, the credit limit may be lower—around 10%.

This model enables users to maintain their investment positions while accessing much-needed liquidity. For instance, an investor with ₦1 million in government bonds could unlock ₦700,000 in credit without selling the bonds. , with users choosing between fixed durations (3, 6, or 12 months) or open monthly repayment plans.

Carrot has already and served , many of whom are digitally-savvy young investors. The company’s and flexible terms position it as a distinct player among Nigerian digital lenders, such as FairMoney, Carbon, Aella Credit, and Sycamore, which typically offer short-term loans based on income or credit history.

What sets Carrot apart is its , which integrates its services directly into the platforms where people already manage their investments. This approach makes borrowing seamless and convenient for users, while offering financial institutions a way to extend credit services without building them from scratch.

“Everyone writes a deck claiming a trillion-dollar market,” Aiki-Raji noted. “I’d rather define our market as anyone who can put money aside in digital assets—that’s who we’re building for.”

The funding round reflects growing investor interest in tailored to Africa’s emerging digital economy. Marlon Nichols, co-founder of MaC Venture Capital, said the firm was impressed by Carrot’s ability to deliver “a seamless, low-barrier credit solution in markets where credit has traditionally been out of reach.”

As embedded finance continues to gain traction across Africa, Carrot Credit is well-positioned to lead a new wave of inclusive, asset-based lending—unlocking opportunities for everyday investors who’ve long been excluded from traditional financial systems.