Why we invested in Kudi, the Nigerian leader in digital payment and collection platform

At Partech, we are always looking for entrepreneurs and products that challenge and transform existing markets. So, when we met Pelumi and Yinka, the two Co-Founders of Kudi, and saw their impressive vision and ambition to make financial services accessible and affordable for all Africans, we knew we had to invest.

In Africa, 90% of all transactions are still cash based. Particularly in Nigeria, with a large informal workforce, 80% of the population continue to be paid in cash. With digital solutions growing, most products don’t address the sheer size of these figures and the true importance of cash in Africa.

However, Kudi and their ever-growing agent network makes digital payments compelling and easy for everyone to use.

Their incredible growth proves their potential to revolutionize the African cash economy.Yinka and Pelumi launched Kudi in 2017, initially as a chatbot, to make money transfers and online bill payments easier. Their theory was that by giving people more access to financial services, they could learn how to use digital products and profit from an uncomplicated and easy-to-use solution for the non techsavvy consumer...

You can read the full article by the Partech Africa team, here.