Nigerian fintech company invests in collaborative African start-ups

Health and education entrepreneurs are encouraged to apply for the scheme, and all investees must be open to working multi-nationally

Spotted: The Disrupt Fund from Carbon, an accessibility-focused financial services company, is seeking African-based entrepreneurs with innovative social solutions. The Nigerian-based business encourages applications from entrepreneurs in any industry, particularly from those working in health and education, areas that are considerably underrepresented in early-stage funding. Carbon’s goal with the fund is to encourage and facilitate cross-industry collaboration through shared access to technology and data.

All investees must also be willing to work across borders and industries, as Carbon wants to encourage cross-national collaboration. Successful applicants will be given office space in Carbon’s Lagos headquarters, on-going mentorship and crucial access to Carbon’s digital financial platforms and audiences. To qualify, businesses must have a functioning product and proven profitability. The available funding totals €91,000, divided into awards of €9,000 per company, and Carbon takes five per cent of each start-up’s equity.

Carbon’s 100 per cent online service provides loans, savings and investment opportunities, debit and ATM card services, and an e-wallet. Networking is encouraged through referral rewards that include discounts on various financial products.

From queuing time in pharmacies to inefficient trade-flow systems, many recent innovations spotted by Springwise aim to solve local challenges with tech-based solutions, which could be widely adopted for broader impact.

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