Fintech startup Kuda gives its early investors opportunity to exit investment

NIGERIA – Kuda, a fintech startup, has presented an opportunity for early investors to exit their investments through a secondary sale after recently closing US$37 million Series A round. An investor, SM River, the consortium consisting of Raj Kulasingam, Haresh Aswani, Vishal Agarwal and Alwin Magimay (which was the lead investor of Kuda’s US$1.6m pre-seed round) recently existed through a secondary sale. “It was important to give Kuda’s earliest investors an exit opportunity, and we are delighted that we have been able to repay their early backing of the company…

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Digital bank Kuda secures US$10M in seed fund to expand its services

NIGERIA – Kuda Bank, Nigeria’s first fully digital bank, has announced that it has raised US$10 million in seed funding representing the largest seed fund to be raised by a tech company in Africa. The funding round was led by Target Global,  the giant VC out of Europe, with Entrée Capital and SBI Investment (once part of SoftBank, now no longer) also participating, along with a number of other notable individual fintech founders and angels. The individuals include Raffael Johnen (founder of Auxmoney), Johan Lorenzen (founder of Holvi), Brandon Krieg/Ed…

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