This archive report was first published on 12 September 2019.
On September 12, 2019, Kuda, a Nigerian digital-only retail bank, made significant strides in its development, securing $1.6M in pre-seed funding.
The startup received the funding from Haresh Aswani, Ragnar Meitern, and other angel investors, marking a crucial milestone in its journey.
With the funding, Kuda plans to launch the live version of its app later this year, having previously been in beta testing. The company's banking software allows users to connect directly to Nigeria's Central Switch, facilitating secure settlement of funds through money transfer instructions.
Furthermore, Kuda has partnered with GTBank, Acess Bank, and Zenith Bank to enhance its services. These partnerships will enable Kuda customers to deposit money and withdraw cash for free at the banks' branches and ATMs.
