Kuda won the award over four other big African fintechs: TymeBank, Moniepoint, FairMoney, and MNT-Halan.
Kuda, along with the other four fintechs, was nominated for the prize earlier this year by the Africa Fintech Summit. The award winner was chosen through an open voting procedure. On April 12, 2023, a representative from Kuda accepted the prize on the company’s behalf at the Africa Fintech Summit ceremony in Washington, DC.
Babs Ogundeyi, the Founder/CEO of Kuda, commented on the prize, saying that the company and the entire Kuda team were thrilled to win the Africa Fintech Summit’s 2023 Excellence In Digital Banking award. He said the award is an acknowledgment of the Kuda team’s commitment and tenacity in developing new solutions that expand access for Africans living on the continent and in the Diaspora to inexpensive and high-quality financial services at all times.
“In almost four years of building the money app for Africans, awards like this have been a meaningful acknowledgement of the work we are doing to make financial services accessible, affordable and rewarding on the continent and in diaspora,” he stated.
Ogundeyi acknowledged the other nominees and thanked everyone who voted for Kuda to win the prize. He also praised the AFTS team for the distinction and assured the Kuda team that they would keep up the good work.
“It’s no small feat to beat out four other fast-rising African fintech firms to this award, and I’m excited about the next phase of our mission to make financial services accessible and affordable for all Africans. Congratulations to the Kuda team!” Ogundeyi further enthused.
Since its inception in early 2018, AFTS has hosted over 4,000 stakeholders from over 100 nations, making it the largest bi-annual gathering of financial technology stakeholders on the African continent. The AFTS was established in 2017 with the goal of bringing together the issues, trends, and changemakers affecting Africa’s financial technology ecosystem.
Kuda is a fintech firm based in Nigeria and the United Kingdom. Kuda, co-founded in 2019 by Babs Ogundeyi and Musty Mustapha, is valued at $500 million and has secured over $90 million from investors such as Target Global and Valar Ventures.