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
-
From Dakar to Douala: Dentons Bets on the Energy Corridors of the Future
09:37
-
Camtel-Ethio Telecom Deal Signals Ambition, But Questions Remain on Digital Delivery
08:32
-
Cameroon Finalizes MoU to Connect to Medusa Africa Submarine Cable System
08:29
-
Libya Prepares First Oil and Gas Licensing Round Since 2008 as It Seeks Higher Output
06:34
-
Togo Pitches Reforms at Ongoing Diaspora Investment Forum
17:03
-
Nigeria: Bottomline Assist Helps Companies Access Tech Talent
15:47
-
Black Swan’s Derick Kazimoto Pushes Data-Driven Credit Models in Africa
15:06
-
Djibouti Moves Toward Launch of National Cybersecurity Authority
14:52
-
Mali Adopts 2026-2030 Cybersecurity Strategy to Counter Rising Attacks
14:48
-
Local Initiatives Organise Fish-Farming Bootcamp in Move to Slash Cameroon’s Fish Import Bill
13:37
Camtel to launch Blue Money in 2026, entering Cameroon’s crowded mobile money market led by MTN Mo...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Dentons confirms its targeting strategy on Africa’s future by anchoring itself in Dakar and Douala, two rising hubs along emerging energy and...
Cameroon’s state operator has finalized a three-year partnership with Ethio Telecom to boost digital payments, modernize networks and prepare the launch...
Cameroon finalizes MoU to join Medusa Africa submarine cable project Medusa to boost connectivity with Europe, Africa, Asia; operational by...
Libya to award first oil, gas licenses in 18 years by early 2026 Tender includes 20 blocks; major international firms among pre-qualified...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...