Kuda Technologies, a fintech company operating in Nigeria and the United Kingdom, has raised close to $100m in funding over the past five years, the Chief Executive Officer, Babs Ogundeyi, announced on Wednesday.
Ogundeyi made the disclosure during a panel session at the GITEX Africa conference in Morocco, where he discussed the company’s growth and the challenges of securing investment as an African fintech startup.
PUNCH Online reports that the event brought together tech industry executives and experts to chart a path for Africa’s digital future.
The GITEX Africa 2024 technology fair scheduled for May 29 – 31, kicked off in Marrakech, Morocco capital with more than 1,500 exhibitors from 130 countries and nearly 700 startups attending.
“We launched in Nigeria in August 2019 and have raised close to $100m within that period,” Ogundeyi said during the panel session titled “Beyond the Starting Lane: Navigating Advanced Funding.”
Other panelists included, co-founder of Glovo in Spain; Sacha Michaud; partner at Africinvest Tunisia; Yassine Oussaifi, and CEO of Yoco South Africa, Katlego Maphai.
Ogundeyi highlighted the difficulties African startups face in attracting foreign investment due to investors’ unfamiliarity with the local environment.
