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
Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...
BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...
EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...
This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...
West African Development Bank allocates $131.8 million to support cotton sectors in Burkina F...
Africa counts more than 1,000 tech hubs in 2024, up from fewer than 600 in 2019 Leading ecosystems in Kenya, Nigeria and Rwanda attract capital and...
Meridian Port Services receives 16 electric RTG cranes for Tema Port expansion; $1.5 billion upgrade aims to raise capacity to 3 million TEUs...
150 Liberian content creators to attend monetization training on May 6–7, 2026, at the Bella Casa Hotel in Monrovia. Platforms involved: Meta...
WAF payments to the state rise to $398 million in 2025, more than double year-on-year Revenue climbs to $1.5 billion, driven by higher...
Sungbo Eredo, located in southwestern Nigeria near the Yoruba town of Ijebu-Ode, stands as one of the most remarkable yet overlooked monuments of...
“Dodji, l’Archet Vodoun” is a documentary about reconnecting with ancestral culture to understand one’s origins, following an initiation ceremony that...