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Kuda bank

Nigerian fintech startup Kuda bank has announced its plan to expand into more African countries.

This comes after the fintech raised $55 million in Series B funding. According to the bank, it will also use the raised funds to launch new product offerings for its Nigerian market.

The funding was made at a $500 million evaluation.


The round was co-led by previous investors, Valar Ventures and Target Global with other investors including Japan-based Strategic Business Investor (SBI) Investment and past angel investors also participating.

In March this year, Kuda which aims at providing a modern banking service for Africans and the African diaspora picked up $25 million in a Series A  led by Valar Ventures, the firm co-founded and backed by Peter Thiel, with Target Global and other unnamed investors participating.

First backing

The March funding marked the first time that Valar, which has invested in a number of …