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
-
Banque Atlantique Togo Raised CFA12 Billion in 2024 with FAGACE’s Help
21:03
-
US Remittance Tax Could Weigh Heavily on African Economies
20:44
-
Orange Implements AI to Improve Capex, Energy Use, and Maintenance Efficiency
20:31
-
Cameroon, Morocco Agree to Boost Cooperation on E-Government
20:26
-
Manono Project: U.S. firm Kobold Signs Agreement in Principle with Kinshasa
19:54
-
Cocoa Grindings Fall Globally as High Prices Weigh on Demand
19:08
-
Egypt expands grid capacity to support green energy ambitions
18:58
-
Togo Initiates Consultations for Upcoming Agricultural Insurance Program
15:38
-
CEMAC Banks Demand Record Liquidity of CFA639 Billion After Rate Cut
14:57
-
Socapalm Distributes CFA1.7 Billion in Dividends to BVMAC Shareholders for 2024
14:48
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • Egypt targets 42% renewable energy share by 2030.• POWERCHINA to build 130-km high-voltage line signed on June 25.• National grid expansion...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...