Nigerian online bank Kuda raises $1.6 mln for development plan
Thursday, 12 September 2019 19:05
Lagos and London-based online bank Kuda said it has raised $1.6 million with a consortium of angel investors led by Haresh Aswani, the Managing Director-Africa of Tolaram Group, a diversified holding company focused on food distribution, energy and financial services.
The start-up Kuda, which holds a banking license obtained in June 2019 from the Nigerian banking system regulator, plans to expand its service offerings to include savings and money transfers. Kuda is also considering strengthening its team of developers working on its banking platform.
As part of this investment, Haresh Aswani will join Kuda's Board of Directors. “The founders of Kuda are extremely smart and knowledgeable about the space. I am excited to partner with Kuda and support their continued growth,” he said.
Kuda platform was set up in 2018 by Babs Ogundeyi and Musty Mustapha. The bank has partnerships with GTBank and Zenith Bank in Nigeria.
Chamberline Moko
Live News
-
CEMAC Plans Tighter FX Rules, but CFA6 Trillion Still Beyond Reach
21:31
-
Douala Port Expands Niger Transit Trade but Faces Strong Regional Competition
21:28
-
Cameroon’s Soap Exports Surge, Driving Revenue Growth Despite Supply Constraints
21:26
-
Mobile Microcredit Expands Across CEMAC, Nearing 900,000 Loans in 2024
21:23
-
Cameroon’s Soap Exports Surge, Driving Revenue Growth Despite Supply Constraints
21:11
-
Derrick Bundi Builds Cross-Border Payments Platform With Pretium
21:00
-
Ng'winula Kingamkono Builds Debt-Free E-Commerce Platform in Tanzania
20:56
-
Chad Moves to Modernize Digital Laws Amid Technology Surge
20:52
-
Togo launches programme to train 240 women in heavy truck driving
20:15
-
Gozem in talks to secure €21 million from IFC to fund expansion
19:57
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
Cameroon’s exports of household bar soap rose sharply in 2025, reaching 74,208 tons, up from 56,624 tons in 2024, according to the latest foreign trade...
Burkina Faso targets 6.1% growth in 2027 under plan Revenues and spending rising; deficit projected near 2.8% GDP Outlook supported by gold,...
IMF approves $266M RSF financing for Liberia climate resilience Additional $26M disbursed under ECF, total...
Axian Telecom partners with Oracle to unify management systems Platform to enable AI rollout, improve governance and...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...