Kuda Bank was founded by founded by Babs Ogundeyi and Musty Mustapha in 2019. Although, the fintech company has been in existence before that time. Precisely, Kuda Bank is a digital-only bank that started in 2016 as “Kudi Money” before rebranding as Kuda in 2019.
So, Kuda Bank as we know it today has been operating under its current name for about 4 years. The company itself, however, has been around for around 7 years since its initial founding in 2016.
KudiMoney is a fintech startup offering digital lending. In 2019, KudiMoney was rebranded to Kuda Bank, focusing on full-scale digital banking with a license from the Central Bank of Nigeria.
At the time Kuda received its operating license as a digital bank, its tagged itself as “bank of the free” because of it free transfer it offered to its customers. Although, the free transfers still continue but have been limited to 25 per month.
Another advantages of Kuda being a digital-only bank is that it has a low operational costs, user-friendly mobile banking, and no hidden fees for its users.
In nutshell, Kuda Bank is now 7 years old in Nigeria. The history of bank’s journey from a small fintech to a leading digital-only bank in Nigeria emphasizes its young but influential status in reshaping Nigerian banking since last 7 years.
