Nigerian fintech startup, Kuda, has secured USD 25 Mn in a series A round led by Valar Ventures, a firm founded by Peter Thiel, with participation from Target Global, and several other undisclosed investors.

Kuda operates as a digital bank, providing financial services such as P2P money transfers, savings account, bill payments, and loans among others. The startup plans to use the fund to broaden its product offerings and expand into new markets.