Kuda, a Fintech startup from Nigeria, launched in September 2019 is co-founded by Babs Ogundeyi and CTO Musty Mustapha.
The startup provides a mobile banking app to help customers with smartphones, spend smartly, and save more, especially when it comes to budgeting.
This free of charge service by Kuda is intended to allow customers to have total control over their income. They also have a transparency policy.
Recently Kuda raised $10 million “making it the biggest seed round ever to be raised in Africa” (MetricsAfrica, 2020).
Due, to the strong demand for the company’s services and drive, with the goal of,
According to CEO Babs Ogundeyi, the goal of Kuda is “To bank every African on the planet wherever you are in the world” said in an interview.
Since its launch, it provides its services to 300,000 customers, consumers, and now small businesses alike. He also added that on average over $500 million is processed monthly.
The $10 million was being led by Target Global a renowned venture capital from Europe, along with other investors: Raffael Johnen (founder of Auxmoney), Johan Lorenzen ( founder of Holvi) Brandon Krieg/Ed Robinson ( founders of Stash), and Oliver and Lish Jung ( angel investors in Nubank, Revolut, and Chime).
Despite the global pandemic, the industry of FinTech in Africa has continued to thrive.