Kuda

What They Do

Kuda is a a full-service digital-only bank with a banking license and designed for smartphones.

Kuda processes payments, transfers, issues debit cards (in partnership with Visa and Mastercard), and has partnerships with several incumbent Nigerian banks for physical deposits and withdrawals when needed.

Why we invested:

Kuda embodies the future of financial services in Africa — a digital-first, mobile-native bank that addresses the critical gap in access, cost and convenience for millions of Africans.
In many African markets, consumers and small businesses are burdened by high fees, poor service and limited innovation from traditional banks. Kuda challenges that status quo by delivering intuitive, affordable banking on the device in your pocket.
Its business model — built around digital delivery, low operational costs, and high user scalability — aligns with the need for banking to evolve on the continent. Moreover, by integrating savings, lending and spending tools into one app, Kuda lays the foundation for deeper customer relationships and stronger financial inclusion outcomes.

The Founder:

Babs Ogundeyi is the Founder and CEO of Kudabank

Active in:

Nigeria and the UK