Nigeria’s Kuda raises $10M to be the mobile-first challenger bank for Africa
Kuda, a startup out of Nigeria that operates a popular mobile-first challenger bank for consumers and (soon) small businesses, is announcing that it has raised $10 million — the biggest seed round ever to be raised in Africa, TechCrunch reports.
The funding comes on the back of strong demand for its services and its ambitions — according CEO Babs Ogundeyi — to become the go-to bank not just for those living on the continent, but for the African diaspora.
The $10 million is being led by Target Global, the giant VC out of Europe, with Entrée Capital and SBI Investment (once part of SoftBank, now no longer) also participating, along with a number of other notable individual fintech founders and angels.
