Nigerian Fintech Kuda Raises USD 55 Mn Series B Round

Nigerian fintech startup, Kuda, has secured a USD 55 Mn Series B funding round co-led by Valar Ventures and Target Global. The startup intends to use this new investment to double down on new services for Nigeria and expand into other Africa countries.

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.