Nigerian digital fintech startup, Kuda has secured $25m in Series A funding led by US based venture capital company, Valar Ventures. Including in this round is Target Digital and other angel investors which are not mentioned in the news.
The Series A funding follows a $10m Kuda’s $10million raise in November 2020, a landmark well celebrated across Africa as the largest seed investment in the continent. In 2019, the fintech startup also raised a pre-seed $1.6 million led by angel investors Haresh Aswani, Ragnar Meitern and others.
Launched in 2016, Central Bank of Nigeria (CBN) issued a banking license to the startup to operate as a digital bank.
According to Techcabal, Kuda processed $2.2bn in February 2021. It has now raised a total of $36.6m in two years to build Africa’s digital bank.