Nigerian digital bank Kuda announced it has facilitated transactions valued at N55.8 trillion ($61.4 billion) since its launch just four years ago. The milestone underscores the startup’s meteoric rise.
In a New Year’s message, Kuda CEO Babs Ogundeyi thanked over 7 million customers for their loyalty during a turbulent 2023 riddled with cash shortages and economic instability. He touted new product features launched despite market challenges.
Powered by a license from Nigeria’s central bank, Kuda offers mobile-based banking services including account openings, payments, deposits and credit. The platform continues enhancing its digital finance tools to boost financial inclusion.
Beyond its home market, Kuda expanded across borders by enabling cross-currency transactions and acquiring a license to launch in Pakistan. This international footprint now positions the company for further growth this year.
Ogundeyi outlined plans to accelerate Kuda’s core offerings such as overdraft protection, point-of-sale terminals and small business accounts. The CEO expressed confidence Nigeria’s prospects will brighten in 2024.
Just four years from its inception, Kuda seems poised to achieve even greater scale. As the company adds users and capabilities, it aims to play a key role in Nigeria’s rebounding economy. Ogundeyi pledged Kuda will help customers “celebrate your progress every step of the way.”
Kuda Bank Processes $61 Billion: The central bank estimates less than 50% of Nigerian adults have bank accounts. This leaves massive runway for Kuda to continue disrupting financial access, powered by resilient technology and localization.
Source Kuda hits N55.8trn transactions value in four years
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