Kuda Nigeria 25m Series Valar
Kuda, Nigeria’s first mobile-only digital bank, has announced the close of its Series A funding round, raising 25 million US dollars. The round was led by a consortium of investors including Target Global, Quona Capital, Green Visor Capital, and BAI.
Kuda, founded in 2019, is a digital-only bank that allows customers to open accounts and access a wide range of financial services from anywhere in the country. Kuda offers services such as savings and investment, bill payments, and international money transfers. The bank has attracted over 1 million customers since its launch, and it has grown rapidly in the past year.
The 25 million dollar funding round will be used to expand Kuda’s services throughout Nigeria, as well as to develop new products and services. The bank plans to use the funds to expand its customer base and to build the infrastructure necessary to support its operations.
Kuda’s CEO and Co-Founder, Babs Ogundeyi, said the funds will enable the bank to continue to provide customers with the best digital banking experience in Nigeria. He added that Kuda is focused on providing customers with access to financial services, no matter where they are in the country.
The funds will also be used to develop partnerships with other financial services providers, as well as to expand its team. Kuda is already working with several partners, including Visa, Mastercard, and GTBank, to provide customers with access to financial services.
The new funding round is an important milestone for Kuda, as it continues to grow and expand its services throughout Nigeria. The bank has become a leader in the country’s digital banking sector, and with the new funds, it looks set to continue its impressive growth.
FAQ
Q: What is Kuda Nigeria?
A: Kuda is a mobile-only digital bank in Nigeria. It allows customers to open accounts and access a wide range of financial services from anywhere in the country.
Q: How much money did Kuda raise in its Series A funding round?
A: Kuda raised 25 million US dollars in its Series A funding round. The round was led by a consortium of investors including Target Global, Quona Capital, Green Visor Capital, and BAI.
Q: What will the new funding be used for?
A: The new funding will be used to expand Kuda’s services throughout Nigeria, as well as to develop new products and services. The bank plans to use the funds to expand its customer base and to build the infrastructure necessary to support its operations.
Q: What partners is Kuda working with?
A: Kuda is already working with several partners, including Visa, Mastercard, and GTBank, to provide customers with access to financial services.
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Conclusion
In conclusion, Kuda Nigeria’s 25 million US dollar Series A funding round is an important milestone for the mobile-only digital bank. The funds will be used to help Kuda grow and expand its services throughout Nigeria, as well as to develop new products and services. With the new funds, Kuda looks set to continue its impressive growth and become a leader in the country’s digital banking sector.
