About Kuda
Kuda is a company based in Lagos (Nigeria) founded in 2017. It operates as a FinTech, and Freemium. Kuda has raised $91.6 million across 4 funding rounds from investors including Valar Ventures, Target Global and SBI Investment. Kuda offers products and services including Kuda Personal Account, Kuda Business Account, Kuda Card, and Loans and Overdrafts. Kuda operates in a competitive market with competitors including Starling Bank, Monzo, Atom bank, Revolut and TymeBank, among others.
- Headquarter Lagos, Nigeria
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Sectors
Financial Services
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Phone
*********
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Website
*********
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Social
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- Legal Name Kuda Technologies Ltd
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$91.6 M (USD)
in 4 rounds
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Latest Funding Round
$55 M (USD), Series B
Aug 02, 2021
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Investors
Valar Ventures
& 12 more
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Employee Count
Employee Count
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Products & Services of Kuda
Kuda offers a comprehensive portfolio of products and services, including Kuda Personal Account, Kuda Business Account, Kuda Card, and Loans and Overdrafts. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Personal accounts are provided for saving and spending.
Business accounts are offered for managing company finances.
Debit cards are issued for cashless transactions daily.
Credit solutions are provided for personal financial needs.
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Software Development Team
33 people
Product Management Team
26 people
Legal and Compliance
10 people
Finance and Accounting
8 people
Human Resources and Administration
7 people
Operations Team
6 people
Senior Team
5 people
Lead Team
4 people
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Funding Insights of Kuda
Kuda has successfully raised a total of $91.6M across 4 strategic funding rounds. The most recent funding activity was a Series B round of $55 million completed in August 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 4
- Last Round Series B — $55.0M
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First Round
First Round
(10 Sep 2019)
- Investors Count 13
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2021 | Amount | Series B - Kuda | Valuation | Valar Ventures , Target Global | |
| Mar, 2021 | Amount | Series A - Kuda | Valuation | Valar Ventures | |
| Nov, 2020 | Amount | Seed - Kuda | Valuation | Target Global |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Kuda
Kuda has secured backing from 13 investors, including venture fund and angel investors. Prominent investors backing the company include Valar Ventures, Target Global and SBI Investment. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Global investments in tech sectors are conducted by Valar Ventures.
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Founded Year | Domain | Location | |
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Venture capital firm
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Founded Year | Domain | Location | |
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Venture capital funds are managed to support unlisted companies' growth.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Kuda
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Kuda
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Kuda Comparisons
Competitors of Kuda
Kuda operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Starling Bank, Monzo, Atom bank, Revolut and TymeBank, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Digital banking services are offered to consumers and businesses.
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| domain | founded_year | HQ Location |
Internet first bank for individuals and businesses
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| domain | founded_year | HQ Location |
Digital banking services are provided for individuals and businesses.
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| domain | founded_year | HQ Location |
Banking solutions are provided for retail customers and businesses.
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| domain | founded_year | HQ Location |
Provider of the digital bank for individuals
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| domain | founded_year | HQ Location |
Internet-first banking services are offered to individuals and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Kuda
Frequently Asked Questions about Kuda
When was Kuda founded?
Kuda was founded in 2017 and raised its 1st funding round 2 years after it was founded.
Where is Kuda located?
Kuda is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is Kuda a funded company?
Kuda is a funded company, having raised a total of $91.6M across 4 funding rounds to date. The company's 1st funding round was a Seed of $10M, raised on Sep 10, 2019.
What does Kuda do?
Kuda is established as a digital banking platform targeting Africans with services like free transfers, cashless payments, and savings with interest. Operations are focused on personal and business accounts, offering solutions such as debit cards, loans, and overdrafts. The company serves multiple regions, including Nigeria, the United Kingdom, South Africa, and Canada. Various financial needs are addressed through innovative tools for saving, spending, and business management. The platform is designed to simplify financial transactions across borders.
Who are the top competitors of Kuda?
Kuda's top competitors include Revolut, Monzo and Starling Bank.
What products or services does Kuda offer?
Kuda offers Kuda Personal Account, Kuda Business Account, Kuda Card, and Loans and Overdrafts.
Who are Kuda's investors?
Kuda has 13 investors. Key investors include Valar Ventures, Target Global, SBI Investment, Entree Capital, and Raffael Johnen.
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