Kuda, a revolutionary financial software developed specifically for Africans, has amassed more than six million users in Nigeria.
This significant achievement is indicative of the firm’s ongoing commitment to lowering financial service costs and enhancing its value for all people in Africa.
This fintech firm has been expanding rapidly ever since it was founded; it has changed the face of the Nigerian fintech industry with its innovative marketing and ground-breaking banking app. Both consumers and businesses may make use of the app’s extensive suite of features, which now include the ability to save money, make payments, and access credit.
Mr. Babs Ogundeyi, Group Chief Executive Officer (GCEO) of Kuda Technologies Limited, released a statement announcing the historic accomplishment, expressing his exuberance and satisfaction at having accomplished this goal. He said that the success was due to the perseverance and dedication of everyone at Kuda in creating long-term, ground-breaking financial solutions for people across Africa.
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Reaching six-million client threshold was noteworthy
Kuda’s success in acquiring customers in Nigeria has prompted CEO Ayo Ogundeyi to reaffirm the company’s commitment to expanding into further African countries. He emphasized that Kuda’s rapid expansion from a tech-driven startup to a market leader is indicative of the success of the company’s mission to make quality financial services available to everyone.
The news of Kuda Microfinance Bank reaching the six-million client threshold was noteworthy, coming just under a year after the bank reached the four-million customer acquisition milestone.”
“Nigeria is the cradle of Kuda, and even as we grow to serve more Africans throughout the globe, the country remains an important market for us. Our achievements here serve as an inspiration and a model for the expansion of our convenient, inexpensive, and gratifying financial services to other markets. His words.
By providing services such as free money transfers, business banking, and rapid access to credit via digital devices, “we are giving Africans around the world a better alternative to traditional finance,” Ogundeyi said.”
Kuda removes 25 free monthly transfers for “SoftPOS” commercial accounts
The company continues to expand
Kuda is driven by a vision for the future that includes replicating its success in other countries outside Nigeria. It is to provide people with more options in terms of how they manage their money by providing digital services, including free money transfers, business banking, and fast credit availability.
During its four years in business, Kuda has accomplished a great deal in Nigeria. The signing up of their six million clients is yet another impressive feat for the fintech firm. Kuda, which released its beta app in August 2019 to widespread acclaim, has already raised more than $90 million from prestigious institutional investors, including Valar Ventures and Target Global.
In 2021, Kuda hit 1 million users, and only 6 months later, it hit 2 million users. Kuda hit three million customers in March 2022, four million in July 2022, and six million in June 2023. The company has also expanded to the United Kingdom.