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Nigerian Fintech Startup Kuda Raises $55M Series B At A $500M Valuation

Kuda — a Nigerian fintech startup that sets itself apart from the competition by building its services with its own banking license in hand — is on the rise! Kuda Bank is an African challenger bank that has just closed a Series B in the amount of $55 million, according to TechCrunch. The raise was made at a $500 million valuation for the London-based company which has been taking on incumbents in the country under its mobile-first, personalized and cheaper set of banking services all built on new and improved, API-based infrastructure. As the company continues to set upon an extensive growth track, Kuda will use the money raised to not only implement new services for Nigeria but to also prepare to launch into more countries on the continent. Co-founder and CEO, Babs Ogundeyi has plans for the banking services to become the go-to financial destination for “every African on the planet.” “We’ve been doing a lot of resource deployment…in Nigeria,” said Ogundeyi in an interview with...

Shanique Yates

Aug 2, 2021