Vendi by Carbon

Vendi by Carbon

Welcome to Vendi by Carbon, your Invoice Discounting Platform! Here are some common questions to help you understand how Vendi works and how to get started.
1. What is Vendi by Carbon?
  • Vendi by Carbon is a new Invoice Discounting Platform. It allows Vendors to get early access to cash by receiving funding for their approved invoices, while the Companies (who owe the invoice) commit to repaying Carbon directly on the invoice due date.
2. What problem does Vendi by Carbon solve? 
  • Vendi solves the problem of delayed payments for vendors, providing them with fast capital (early access to cash). For companies, it allows them to retain their existing payment terms while ensuring their vendors get paid quickly.
3. What makes Vendi by Carbon a game-changer?
  • Fast Capital: Vendors access funds immediately.
  • Trust-Preserving: Companies don't have to change their payment terms with vendors.
  • Controlled Risk: Carbon receives direct payment from the company, with digital traceability.
  • Fully Digital: The entire workflow, from onboarding to approval and disbursement, is digital.
  • Seamless for Carbon Business Users: Existing Carbon Business banking customers can sign up with no extra steps.
  • Flexible Invoice Submission: Vendors can upload invoice files directly.
4. How do I sign up for Vendi by Carbon?

Kindly click on this link https://vendi.getcarbon.co/register
  • For existing Carbon Business banking customers:
    1. Click on 'Continue with Carbon Business Account'.
    2. Input your registered email address and password.
    3. Select your business account (your registered business name linked to your email address will appear) to use for Vendi.
    4. Proceed to create a Vendi password.
    5. You will receive a notification that your setup is complete, and you can then log in.
  • For new businesses (Companies or Vendors) without a Carbon Business account:
    1. Click on 'Sign up with Email'.
    2. Input your details (e.g., Name, Registered Email Address, Business Name).
    3. Create a password.
    4. You will then be successfully logged in to the platform.
You sign up on the Vendi by Carbon platform and complete KYB (Know Your Business) verification to verify legitimacy. Vendors will also complete KYC (Know Your Customer).

5. How does a Company get started on Vendi by Carbon?
  • A business (e.g., Dangote Events Ltd) signs up on the Vendi by Carbon platform and completes KYB (Know Your Business) verification to ensure legitimacy. Once onboarded, a company can also invite other businesses (vendors) to join the platform.
6. How does a Vendor get started and connect with a Company?
  • A vendor (e.g., Nnamdi & sons Ltd) signs up on the Vendi by Carbon platform and completes KYB/KYC (Know Your Business/Customer) verification. After verification, the vendor sends a connection request to the company they work with (e.g., Dangote Events Ltd) on the platform.
6.1. Connection Process: Establishing Relationships with Companies
  • How to establish connections with companies?
    • You can send a connection request to companies you’ve previously worked with if they’re already registered on the application. For new companies that are not yet registered, please invite them to join first.
  • Company Reviews:
    • The company reviews your connection request and either approves or rejects it.
  • Start Invoicing:
    • Once your connection request is approved, you can begin submitting invoices for financing.
7. How does a Vendor submit an Invoice for financing?
  • Once connected with a company, the vendor can create an invoice digitally directly on the Vendi by Carbon platform. The invoice will include details like Date, Items, Amount, etc.
  • New Invoice Upload Functionality: Vendors now have greater flexibility. You can upload invoice files directly to the Vendi platform. Supported formats include PDF, JPG, and PNG. You'll see live previews and real-time upload status for a smooth experience. The invoice is then submitted to the company digitally through the platform.
8. What happens after a Company receives an invoice from a Vendor?
  • The company receives the invoice digitally on the Vendi by Carbon platform. They review the content and digitally approve it.
  • Important: This approval is not a payment to the vendor. It is a commitment by the company to pay Carbon the invoice amount on the original due date.
9. Who can request invoice financing?
  • Only the creator of an invoice (the Vendor) can request invoice financing for that specific invoice.
10. What makes an invoice eligible for financing?
  • Invoices become eligible for financing once they are approved by the recipient company. You can manage approvals on the 'Invoice Approval' page under the company that sent the invoice.
11. Why don't I see any eligible invoices?
  • If no invoices appear under 'Eligible Invoices', it likely means they haven't been approved by the recipient company yet. Click the 'Refresh' button to sync the latest data.
12. How do I request financing for my invoices?
  • Go to the 'Eligible Invoices' tab on the ‘Invoice Financing’ page to view eligible invoices. Click on any invoice to see its details, then select 'Request Financing' to proceed.
13. Which financing provider should I choose for invoice financing?
  • By default, Carbon is the financing provider for all financing requests on the platform. When requesting financing, please ensure you select Carbon as the financer. If more financing options become available in the future, they will be listed in the financing provider dropdown for you to choose from.
14. Who repays Carbon for the financed invoice?
  • The Company (who originally owed the invoice to the vendor) commits to repaying Carbon directly on the invoice's due date. 
15 .  Is Vendi by Carbon secure?
  • Yes, Vendi by Carbon operates with a fully digital workflow and digital traceability, ensuring controlled risk for all parties. All businesses undergo KYB/KYC verification to ensure legitimacy.


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