Kuda Bank

Kuda
Native name
Kuda Technologies
IndustryBanking
Founded2019; 6 years ago (2019)
FoundersBabs Ogundeyi
Musty Mustapha
Headquarters
London
,
United Kingdom
Websitekuda.com

Kuda, also known as Kuda Technologies Limited, is a Microfinance Bank and fintech company operating in Nigeria and the UK. It was founded by Babs Ogundeyi and Musty Mustapha in 2019.[1][2][3]

The company initially begun as Kudimoney, or "the bank of the free", an online-only savings and lending platform. It has since undergone a few funding rounds to transform into what is now Nigeria’s first neobank.[4]

Kuda was listed as one of the seven WEF African technology startups of 2021.[5] It won the Neobank of the year by the BusinessDay BAFI (Banking and Financial Institutions) awards in 2021 at the BAFI awards.[6]

In 2024, Kuda and SeerBit announced a partnership through which Kuda's retail customers can make payments on SeerBit's checkout platform without inputting card details.[7]

Kuda is valued at $500 million and has raised over $90 million from investors, including Target Global and Valar Ventures.[8] It is also currently listed as one of the licensed microfinance banks in Nigeria.[9]

See also

References

  1. ^ "Inside Kuda Bank's playbook for banking every African". TechCabal. 2020-11-13. Retrieved 2021-06-17.
  2. ^ Harrison, Polly Jean (2021-04-17). "Top African Challenger Banks Helping the Unbanked Through Mobile Services". The Fintech Times. Retrieved 2021-06-17.
  3. ^ "Kuda Bank: Broadening banking access with innovation". Vanguard News. 2022-01-12. Retrieved 2022-02-05.
  4. ^ "Kuda Bank Revolutionises Banking for Millennials". Digital Banker Africa. 2020-11-12. Retrieved 2023-11-23.
  5. ^ "7 African startups named WEF Technology Pioneers of 2021". Disrupt Africa. 2021-06-16. Retrieved 2021-06-17.
  6. ^ "Kuda Passes 2 Million Customer Milestone, Wins Banking Award – THISDAYLIVE". www.thisdaylive.com. Retrieved 2024-10-14.
  7. ^ "SeerBit and Kuda Join Forces to Enhance Seamless Online Payments". Fintech Finance News. 14 August 2024.
  8. ^ Lunden, Ingrid (2 August 2021). "Kuda, the African challenger bank, raises $55M at a $500M valuation". Retrieved 11 April 2022.
  9. ^ Research Department - Central Bank - General - Memoranda to Central Banking Advisory Committee (CBAC) - File 2 - January - February 1959 (Report). Reserve Bank of Australia. 2021-09-30.
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