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
-
Liberia Plans $39 Million Mining Investment to Target $3 Billion a Year in Revenue
09:22
-
Orange Aims to Show That African Esports Talent Belongs on the Global Stage | Interview
09:09
-
Nigeria Writes Off $5.27B in State Oil Company’s Debt
21:30
-
Djibouti, Egypt Sign Agreements to Secure Power Supply for Ports
20:10
-
Algeria Breaks Ground on $207M Tire Plant, Steps Up Local Production
19:11
-
Gédéon Dossou Tackles Prescription Management Gaps With Pharmatrack
18:32
-
Joshua Raphael Automates High-Traffic Parking Management With Parket
17:39
-
Sodecoton Awards Bercotech Contract for 110 kVa Solar Plant at Touboro
12:24
-
Aissata Diallo Bah Widens Access to Financial and Legal Data on African Companies
12:11
-
After Lomé Launch, Togo Expands Cash Transfers Nationwide
11:53
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance...
Silver hit a record $74.8 an ounce in late December 2025 Analysts see prices ranging from&nb...
US strikes in Sokoto test Nigeria's financial stability, causing Eurobond yields to surge and inve...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Liberia targets over $3 billion annually from mining, energy by 2029 Government to modernize geology data, digitize procedures, boost state...
Tinubu approves partial write-off of NNPC debts to Nigerian government Decision cancels $1.42 billion and 5.57 trillion naira obligations Move...
Djibouti, Egypt sign port, logistics and energy cooperation agreements Deals include 23-MW solar plant to power Doraleh port operations Aim is to cut...
Algeria launches $207 million tire factory project in Touggourt Plant targets 5 million annual units, boosting industrial self-sufficiency Move...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...