Carbon, a digital financial services provider, has successfully acquired Vella Finance, a Nigerian fintech company specialising in SMEs. The two businesses released a statement on Wednesday announcing the deal’s completion. One Credit Limited, the company’s parent, purchased Vella Finance when a groundbreaking AI-powered business banking platform was introduced.
According to the announcement, the acquisition represents a significant advancement in Carbon’s goal of providing small and medium-sized businesses (SMEs) with cutting-edge, easily accessible financial services that take advantage of the most recent developments in artificial intelligence. Following the acquisition, Gabriel Ajenifuja, co-founder and chief technology officer of Vella Finance, announced that the company would move its clients to Carbon Business and provide individual clients the choice to upgrade to business accounts.
Ngozi Dozie, the CEO and co-founder of Carbon, highlights the company’s dedication to using AI internally and disseminating these findings widely. The ownership shift won’t affect Vella Finance’s dedication to its clients. According to the firm, the acquisition would expand its user base, enable it to create innovative financial solutions and offer a safer banking environment.
On the other hand, Carbon wants to take advantage of Vella Finance’s AI-powered transaction analysis, which gives corporate clients helpful information about their transactions.
