Kuda Bank

Kuda

Native name	Kuda Technologies
Industry	Banking
Founded	2019;6 years ago (2019)
Founders	Babs Ogundeyi Musty Mustapha
Headquarters	London , United Kingdom
Website	kuda.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

• Banks portal

• Economy of Nigeria
• List of banks in Nigeria

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. doi:10.47688/rba_archives_2008/01533.