African digital lending platform Carrot completes $4.2 million seed round financing

According to Crowdfunding Insider, African digital lending platform Carrot has completed a seed round financing of $4.2 million, led by MaC Venture Capital with participation from Partech Africa and Authentic Ventures. The funds will be used for team expansion, business expansion, and AI risk control system development. The platform allows users to obtain credit using digital financial assets such as stocks and encrypted assets as collateral. Currently, over 2 million US dollars in loans have been issued, serving more than 10000 users. Founder Bolu Aiki Raj stated that Carrot solves the problem of insufficient traditional credit infrastructure in Africa through a non cash collateral model.