1. Heat the olive oil in a pot over medium heat. Add the chopped onion and carrot, and sauté until softened.
2. Stir in the tomato paste, cumin, and paprika. Cook for another minute.
3. Add the red lentils and vegetable broth. Bring to a boil, then reduce the heat and let it simmer for about 30 minutes, or until the lentils are tender.
4. Use a blender to puree the soup until smooth. Season with salt and pepper to taste.
5. Serve hot, garnished with a sprinkle of paprika or a drizzle of olive oil if desired.