Kuda, the money app for Africans says it has hit six million customers milestone in Nigeria.
The company says it has extended its corporate mandate of making financial services more accessible, affordable, and rewarding to all Africans.
Group CEO/Founder, Kuda Technologies Limited, Babs Ogundeyi, in a statement expressed excitement over the recent milepost.
He describedg it as part of the unrelenting commitment and resilience of the Kuda team to build sustainable and innovative solutions that enable Africans to enjoy affordable and quality financial services at all times.
According to him Kuda Microfinance Bank has grown from a digitally-leveraged financial solutions start-up to an industry leader.
He said the announcement of the company’s six-million customer mark was significant, coming just under a year after attaining the four-million customer acquisition milestone.
Ogundeyi said Nigeria remained a key market for Kuda, assuring that the growth momentum in customer acquisition is a motivation to expand the brand footprint in other African markets.
“Nigeria is where Kuda’s story began and it remains a key market for us even as we expand to reach Africans in other parts of the world. Our success here is a motivator and a blueprint for everywhere else we will establish our brand of accessible, affordable, and rewarding financial services,” he said.
He added that Kuda is giving Africans around the world a better alternative to traditional finance by delivering services, including free money transfers, business banking, and instant access to credit through digital devices.
Ogundeyi said in four years of operations in Nigeria, Kuda has recorded several achievements and that the six millionth customer sign-up capped the numerous noteworthy milestones that the fintech has previously recorded.
In August 2019, Kuda launched the beta app and raised over $90m from some of the world’s most respected institutional investors including Valar Ventures and Target Global.
In May 2020, Kuda launched a COVID-19 fund to provide relief to vulnerable groups in Lagos, a city of over 20 million people. It also partnered with Payoneer, a global payments platform, to facilitate international business payments to Nigeria.