Nigeria-based credit and financial services app developer Carbon has raised a $100,000 fund to back early-stage startups from across Africa, VentureBurn has reported.
Founded in 2016, Carbon has developed a mobile-led platform with 2.1 million users that provides enterprises and individuals with integrated access to financial services like micro-loans, investments and credit rating updates.
The company’s Disrupt fund will invest up to $10,000 in each portfolio company in return for 5% equity interest on a sector-agnostic basis.
Disrupt is open to post-revenue startups looking to expand into overseas markets. It is already accepting applications from Uganda, Kenya, Nigeria, Ghana, Cote d’Ivoire and Egypt.
With Disrupt, Carbon hopes to play a role in greater collaboration between emerging African enterprises, offering portfolio companies use of its technology and customer acquisition resources.