In a groundbreaking achievement, Kuda, the innovative money app designed for Africans, has surpassed six million customers in Nigeria. The milestone reflects the company’s unwavering dedication to making financial services more accessible, affordable, and rewarding for all Africans.
Since its inception, this fintech company has experienced consistent growth, revolutionizing the Nigerian Fintech landscape through disruptive marketing and continuous improvements to its banking app. The app now offers a wide range of services, including savings, payments, and credit facilities, catering to both retail and business customers.
Mr. Babs Ogundeyi, the Group Chief Executive Officer (GCEO) of Kuda Technologies Limited, expressed his excitement and pride in reaching this significant milestone. He attributed the achievement to the relentless commitment and resilience of the entire Kuda team in developing sustainable and innovative financial solutions that benefit Africans across the continent.
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Highlighting Nigeria as a key market for Kuda, Ogundeyi affirmed the company’s commitment to expanding its footprint in other African markets, leveraging the momentum of its customer acquisition success. He emphasized that Kuda’s growth from a digitally-driven startup to an industry leader was a testament to their vision of providing accessible, affordable, and rewarding financial services.
With an eye toward the future, Kuda is motivated to extend its success story beyond Nigeria and reach out to other parts of the world. Their mission is to provide a better alternative to traditional finance by offering services such as free money transfers, business banking, and instant credit access through digital devices.
In the four years of its operations in Nigeria, Kuda has achieved several significant milestones. The recent six millionth customer sign-up marks yet another noteworthy achievement for the fintech company. Back in August 2019, Kuda launched its beta app and received substantial support, raising over $90 million from esteemed institutional investors, including Valar Ventures and Target Global.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard