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Thursday, June 11, 2026
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EXCLUSIVE: “Buy, Build, or Boost: Choosing the Right Path Amidst an Accelerating Agentic Future” – Matthew Barnard, BBD and Theodora Lau , Unconventional Ventures in ‘The Fintech Magazine’ Intimate Data Enrichment: Powering Hyper-Personalized Portals and Risk-Mitigated Lending Rails The Expansion of Machine Identity: Mapping Digital IDs, Liability Protocols, and Cross-Border Frameworks for IoT and AI Agents The Financial Benefits of Nearshoring IT Services and How Greentech Is Reshaping Modern Banking Infrastructure ACI Worldwide Powers Next-Generation PSP Expansion in Africa with Kwik Payments Go-Live More Than 60% of Pix Automático Users Are Brand-New Subscribers to Digital Platforms, EBANX Data Shows Comrade Trustee Services Goes Live With Smartstream’s Air, the AI Reconciliation and Data Automation Solution Visa Partners with OpenAI to Power the Next Generation of AI Commerce MOZN Redefines Fraud Response From Days to Minutes With AI Rule Builder US and UK Payments Firms Racing to Deploy AI Without Modernizing Financial Infrastructure enza Awarded Payment Service Provider (PSP) Enhanced Licence in Ghana Ramp Launches Applied AI Solutions, Helping Enterprises Deploy AI Agents Across Finance Operations Payhawk’s Summer ’26 Edition Gives Finance Teams Enterprise Control Without Enterprise Complexity Corpay Launches Dedicated M&A Paying Agent and Escrow Service as Law Firms Exit the Market Orbital Unveils Plans for US Expansion as Demand Grows for Stablecoin and Cross-border Payment Infrastructure

Nigeria’s Challenger Bank Kuda Raises $10M For Its Mobile-First Services

Nigeria-based Kuda, which operates its own mobile-first challenger bank, now has $10 million after a funding round in what TechCrunch reported is the biggest seed round ever raised in Africa.

The round was led by European venture capital firm Target Global, while Entrée Capital and SBI Investment participated as well, alongside numerous other investors, according to the report. Kuda’s bank works with customers and will soon add a capability for small businesses.

CEO Babs Ogundeyi said the company’s goal is to “bank every African on the planet, wherever you are in the world,” TechCrunch reported.

Kuda launched in 2019 and has since racked up almost 300,000 customers, including some small businesses as of late, the report stated. The company processes around $500 million in transactions per month.

Prior to this round, Kuda had also raised $1.6 million in a pre-seed round, and Ogundeyi said he’s already working on a larger Series A for the future, according to the report.

Kuda, according to a previous PYMNTS report, was granted a license from the Nigerian Central Bank, making it the first digital-only bank with a standalone license. Ogundeyi previously held a role working with the Nigerian government in financial advising. The bank worked to add savings and P2P payments after its launch, offering quick bank account openings.

African FinTechs have been in the spotlight as of late, with Kuda taking advantage of a particular hotbed in Nigeria, TechCrunch reported. Unlike other challenger banks, Kuda hasn’t focused on partnering with other financial institutions, instead focusing on customer service and boosting user-friendly experiences and money management services, managing payments, issuing cards and allowing physical deposits.

The pandemic has affected the Nigerian banking landscape, PYMNTS reported. While cash had long been the preferred method there, the pandemic forced many businesses to close their doors, spurring people to seek more digital options.

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  1. EXCLUSIVE: “Buy, Build, or Boost: Choosing the Right Path Amidst an Accelerating Agentic Future” – Matthew Barnard, BBD and Theodora Lau , Unconventional Ventures in ‘The Fintech Magazine’ Read more
  2. Intimate Data Enrichment: Powering Hyper-Personalized Portals and Risk-Mitigated Lending Rails Read more
  3. The Expansion of Machine Identity: Mapping Digital IDs, Liability Protocols, and Cross-Border Frameworks for IoT and AI Agents Read more
  4. The Financial Benefits of Nearshoring IT Services and How Greentech Is Reshaping Modern Banking Infrastructure Read more
  5. ACI Worldwide Powers Next-Generation PSP Expansion in Africa with Kwik Payments Go-Live Read more
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