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Kuda
Free mobile bank for Nigerians
- 501-1000 employees
- Fintech
- B2C
- B2B
- Banking
- Mobile
- Holborn, London, UK
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Company mission
To give all Africans on the continent access to banking services at prices they can afford.
16% employee growth in 12 months
Our take
Kuda, which provides free mobile-first banking services for Nigerians, is one of the most high profile African neobanks in a fast-growing field.
On the African continent, almost half of adults remain without a bank, but most adults own a smartphone, meaning there’s huge potential for easy, mobile first financial services. In Nigeria, where Kuda initially focused its operations (it has now expanded to the UK), a median age of around 19 years also indicates that the neobanking market is ripe for mainstream adoption.
It’s also telling that Kuda’s lead investor was Valar, which also invested heavily in major disruptor banks N26 and Wise. Indeed, that this was Valar’s first investment in an African startup highlights its prospect for further growth.
The company has big plans for the future with an intention to launch in new markets, with further products, all the while maintaining its focus on the African diaspora.
Freddie
Company Specialist at Welcome to the Jungle
Benefits
- A great and upbeat work environment populated by a multinational team
- Career development & growth opportunities
- A great work life balance
- Remote working option for certain roles
Funding (last 2 of 4 rounds)
Aug 2021
$55m
SERIES B
Mar 2021
$25m
SERIES A
Total funding: $91.6m
Leadership
Babs Ogundeyi
(CEO)Fomer PwC Engagement Manager, and former Special Adviser to the Governor on Finance in the Oyo State Goverment. Founded and sold car classifieds magazine Motortrader Nigeria to a major national newspaper.
Musty Mustapha
(CTO)Prior to co-founding Kuta, was a Senior Software Development Engineer at Standard Bank Investment Corporation, and a Business Solutions Developer at both Keystone Banks and First Bank of Nigeria.