U.K. and Nigeria based digital bank raised $55m in Series B funding led by Valar Ventures and Target Global.
“We’ve been doing a lot of resource deployment has been in our operational entity, in Nigeria. But now we are doubling down on expansion and the idea is to build a strong team for the expansion plans for Kuda,” Ogundeyi told TechCrunch in an interview. “We still see Nigeria as an important market and don’t want to be distracted so don’t want to disrupt those operations too much. It’s a strong market and competitive. It’s one that we feel we need to have a strong hold on. So this funding is to invest in expansion and have more experience in the company with relation to expansion.”