Kuda, digital and financial service group has attained over six-million customer milestone in Nigeria by extending its corporate mandate of making financial services more accessible through disruptive marketing technology and improved banking App.
The fintech company has consistently reached growth trajectory by making great strides in repositioning the Nigerian Fintech space through disruptive marketing and improved banking app that offers savings, payment, and credit services for retail and business customers.
Announcing the landmark achievement, Group CEO/founder, Kuda Technologies Limited, Babs Ogundeyi expressed excitement over the recent milepost, describing 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.
He said Kuda Microfinance Bank has grown from a digitally-leveraged financial solutions start-up to an industry leader, and the announcement of our six-million customer mark was significant, coming just under a year after attaining the four-million customer acquisition milestone.
Ogundeyi noted that, Nigeria remains a key market for Kuda, while 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 added.
“We are 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 stated.
In four years of operations in Nigeria, Kuda has recorded several achievements and the six millionth customer sign-up caps 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.
The same year in November 2021, Kuda launched Visa cards in Nigeria; passed the two millionth customer milestone in December 2021, and in February 2021, Kuda passed 1.5 million iOS downloads.
In March 2022, Kuda passed the three-million-customer milestone; ramped up to four millionth customer base in July 2022, and further in November 2022, Kuda launched in the UK, while capping with the six-million-customer milestone in June 2023.
The fintech company has won several credible awards including the Vanguard Fintech Company of the Year Award, and the GAGE Innovative Bank of the Year Award, both in 2022. And most recently, the company clinched the 2023 Africa Fintech Summit (AFTS) Excellence In Fintech award presented by the Africa Fintech Summit (AFS) in Washington, DC.
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