Digital-only retail bank Kuda raises $1.6m to build Africa’s best bank

People are our everything.

I’m incredibly excited to announce today that we’ve raised $1.6 million pre-seed investment funding with participation from Startupbootcamp, Haresh Aswani of the Tolaram Group, Ragnar Meitern (early investor in Monese and Bolt) and other angel investors.

If there’s anything I’ve relearned over and over in the many months of hard work leading up to today, it’s that people mean everything to a business and particularly to Kuda.

As all of us at Kuda HQ celebrate the announcement, I’m taking this time to appreciate the team of diverse and highly committed people who have brought our vision of a remarkable banking experience to life. This is only the beginning of our revolutionary journey of innovation.

My appreciation also extends to our backers — those who, with nothing more than faith in a promising concept and our wavering vision to make banking accessible to everyone, put their money behind us. Thank you for believing in Kuda unwaveringly. You made this possible, and we will continue to count on your support as we grow.

I reserve my special gratitude for everyone who bought into Kuda early, bugs included, and trusted us with their money by signing up and using the bank.

As we built the first version of Kuda, we weren’t sure how the public would react, so it’s thrilling to know that thousands of people have opened Kuda bank accounts ahead of our official launch. You all are the best. Please, keep your confidence in us and we’ll keep getting better for you.

We’ll use this money to launch out of beta later this year, our immediate priorities are continuous product improvement and excellent customer support, so the funds we’ve raised will be used to expand our software development and customer support teams and equip them with the best tools available.

It’s back to work for us, not like we ever stopped as we continue to build Kuda into Africa’s best bank. Source: Medium