Most Nigerians with a car don’t think of it as a financial asset. They think of it as transport — something that drinks fuel, needs servicing, and quietly loses value the longer it sits. But your car is one of the few tangible assets you actually own outright, and right now, it can do a lot more than move you from point A to B.
That is the idea behind the new partnership between Fundmey and Carbin Africa.
There is a better way.
What Carbin Africa Does
Carbin Africa, a MasterCard-funded startup, launched a novel product, “CarFlex”. CarFlex is a vehicle-backed financing platform operating in Nigeria. The Carflex model is straightforward: if you own a car and need quick liquidity, you do not have to sell it; rather, you use it as collateral. Carbin Africa professionally handles the vehicle, disburses fast financing, and returns your car once repayment is complete.
For Nigerians who own a vehicle but struggle with short-term liquidity, CarFlex is not a last resort. It is an asset-backed bridge between what you own and what you need.
Where Fundmey Comes In
Fundmey is a community-powered finance company that makes lending faster and more accessible. Through its Platform Aggregated Customer Lending product, Fundmey partners with platforms to provide their users with direct access to credit, seamlessly embedded in the partner’s existing system via API.
That is exactly what this partnership does.
With Fundmey’s API integrated into CarFlex, loan requests from CarFlex users are now funded directly through Fundmey’s lending infrastructure. This means Carbin Africa no longer has to carry the financial burden of funding loans independently. Fundmey now handles that layer, ensuring that when a CarFlex customer needs financing, the funds are sourced efficiently, processed quickly, and disbursed without friction.
The result is a cleaner, faster experience for the end user, and a more sustainable operating model for CarFlex.
Why This Partnership Makes Sense
Carbin Africa brings a compelling product and a real customer need. Vehicle-backed financing addresses one of the most common financial pressure points in Nigeria: the need for larger, short-term cash access when conventional credit is either inaccessible or too expensive.
Fundmey brings the capital infrastructure to fulfil that need at scale. Rather than each platform building its own lending operation from scratch with all the regulatory, operational, and capital complexity that involves, Fundmey provides the financial access layer so platforms like CarFlex can focus on what they do best.
In Their Own Words
“At Fundmey, we have always believed that the right infrastructure can transform how Nigerians access financial opportunities. Partnering with Carbin Africa is a natural extension of that belief. With a product that explores what Nigerians already own, our job is to ensure credit is accessed as quickly as the need arises. This is exactly the kind of partnership we exist to power.”
— Chukwuemeka Ezechukwu
CEO, Fundmey
“Financing has always been the hardest part of scaling a vehicle-backed financing platform in Nigeria. Finding a partner like Fundmey, one that understands the infrastructure problem and has built a genuine solution for it, changes everything for us. Our customers will feel the difference immediately. Faster disbursements, less friction, and a product that finally delivers on its promise.”
— Femi Oriowo
CEO, Carbin Africa
The BIG Picture
Nigeria’s credit market has a well-documented problem: the majority of the working population has no meaningful access to credit because the options available are either built for a different customer entirely or are laced with exorbitant interest rates and terms that turn a short-term fix into a long-term burden.
Fundmey and Carbin Africa are not trying to replicate that system. We are building around this credit gap through community trust and asset-backed financing. This is more than a partnership: it is a shared commitment to making credit work better for the people who need it most.
To learn more about how Fundmey works, visit www.fundmey.com/about
To explore Carbin Africa and unlock the value of your vehicle, visit www.carbin.africa/carflex