Kuda
'The bank of the free' — Nigeria's most-funded consumer neobank, now bridging NG↔UK remittance.
'Bank of the free'; NG + UK remittance.
- Who holds it
- The company itself — it holds a full banking licence — Microfinance bank (NG).
- The ledger
- The bank’s own core ledger.
- If it fails
- A covered-deposit payout through the local scheme, up to its limit.
Derived from Kuda’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional |
| HQ | Lagos, NG |
| Founded | 2019 |
| Custody | Custodial |
| Regulation type | Licensed bank |
| License detail | Microfinance bank (NG) |
| Card | Visa · Debit |
| Yield | Annual interest |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Countries | Nigeria, United Kingdom |
| Founders | Babs Ogundeyi, Musty Mustapha |
| Funding | ~$90M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @joinkuda ↗
Common questions about Kuda
What is Kuda?
Kuda is a fiat neobank, headquartered in Lagos, NG and founded in 2019. Your money is held custodially, so Kuda or its partner bank holds the balance and you hold a claim on it. It is regulated as a licensed bank (Microfinance bank (NG)).
Does Kuda have a card, and where can you use it?
It issues a Visa debit card. It is available in 2 countries, across Africa.
Does Kuda require KYC?
Yes. Kuda requires identity verification (KYC) to open an account, as a licensed bank.
What does Kuda cost?
From the verified fields: yield Annual interest. Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with Kuda before relying on them.
Early investors
Head-to-head
Kuda vs OPay · Kuda vs TymeBank
Peers
Wise · TymeBank · OPay · PalmPay · Bank Zero · Discovery Bank
Kuda appears in
Neobanks that hold their own banking license (132) · Neobanks available in Africa (92) · Neobanks that issue a Visa card (182) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.