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iStock 1299953733 1

Carbon transforms into a full-service bank on Mambu


Pan-African microfinance bank accelerates the pace of innovation and speed of software delivery on the flexible and composable banking platform

Amsterdam, 6 September 2022—Carbon Finance, a Pan-African microfinance bank, today announced it has extended its partnership with Mambu to continue growing its financial services offering and accelerate expansion. The agreement enables Carbon to offer the full-spectrum of banking products and services, and launch Carbon Zero, its new ‘Buy now, pay later’ (BNPL) product.

Founded in 2012, Carbon is a long-standing customer of Mambu that began as a lending platform in Nigeria. Geared for future expansion from launch, Carbon selected Mambu’s cloud-native banking platform for the ability to scale and flexibility to disburse instant loans in minutes, helping the lender build credibility in the market.

In 2020 Carbon received a banking licence and kicked off rapid evolution into a full-service, customer-centric bank. Mambu’s API-enabled composable technology allowed Carbon to build daily banking services and e-wallets through partner integrations. Today the microfinance bank offers a zero-fee account, instant loans, free money transfers, savings and investments options at market-leading rates, and simplifies payments like airtime and bill payments. 

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The capability to innovate at speed and introduce new products and features quickly is a competitive advantage for Carbon. With growing demand for split payment options among consumers, the bank launched its new BNPL product Carbon Zero to help customers get products and services in areas such as healthcare, finance, travel and wellness.

Chijioke Dozie, CEO of Carbon Finance, said: “We engaged Mambu a decade ago because it ticked all the boxes as a cloud banking platform. We were looking for great customer service and a robust cloud-native platform. Combining Mambu with our architecture allows us to continue scaling and make a real difference to the lives of our customers. We see a future where modern banking experiences are accessible to all, and this further collaboration with Mambu takes us one step closer to that vision.”

Peter Richmond, VP of Customer Success at Mambu, commented: “Carbon is a long-standing and valued customer. Teaming up with our platform solves real pain points and empowers Carbon to offer modern banking experiences to its customers. We look forward to strengthening our partnership and helping Carbon as it expands its product offering.”

Ikenna Okwukaogu, VP Engineering of Carbon Finance, added: “Our initial implementation of Mambu was quick and took only a month to fully integrate the cloud platform into our processes. Since then, we have extended our use of Mambu, and rolling out new products and services typically is just a matter of a few hours at most.“


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