Kuda

Kuda, often called “The Bank of the Free,” is a Nigerian digital-only bank founded in 2019 by Babs Ogundeyi and Musty Mustapha. It offers banking services with no monthly fees, appealing to Africa’s young, tech-savvy population.

The app-based bank provides free debit cards, savings accounts with interest, and tools for budget management. Kuda’s seamless integration with Nigeria’s payment systems has made it popular among millennials and freelancers.

Kuda has raised over $90 million, including a $55 million Series B round in 2021. The company is scaling operations to other African markets, aiming to redefine banking for the continent’s underserved population.