Preheat the oven to 350 degrees. Line 2 (9-inch) cake pans with parchment paper and spray with cooking spray.

Cream the Swerve Granular and butter together in a mixer until fluffy, about 3 minutes. Add the eggs, one at time, beating well after each addition. Beat in the vanilla.

In a mixing bowl, combine the almond flour, baking powder, cinnamon, salt, and nutmeg, mixing well. Stir in all but about ½ cup of the mixture into the butter mixture. Add the carrots and walnuts to the reserved flour mixture, stir to coat, then stir into the batter. Divide the batter among the prepared cake pans. Bake for 20-30 minutes or until a toothpick inserted into the center comes out clean. Let cool in the pans.

Beat the cream cheese and butter together until fluffy, about 2 minutes. Add the Swerve Confectioners and vanilla and beat well. Add the cream, 1 tablespoon at a time, and beat until a spreadable consistency is achieved.

Remove cooled cakes from pans, spread some of the frosting on top of one layer, add the other layer and finish frosting. Top with ½ cup chopped walnuts and serve or refrigerate until serving. Can be made 2 days ahead.