Kuda, the money app for Africans, has won the 2023 Africa Fintech Summit (AFTS) Excellence In Fintech award presented by the Africa Fintech Summit (AFS) in Washington, DCs.

Kuda beat four other major African fintechs – TymeBank, Moniepoint, FairMoney and MNT-Halan – to clinch the award.

Kuda, alongside the four fintechs, was nominated for the award by the Africa Fintech Summit earlier this year. The winner of the award was selected through an open voting system. A representative of Kuda received the award on the company’s behalf at the Africa Fintech Summit ceremony in Washington, DC, on April 12, 2023.

Commenting on the award, Babs Ogundeyi, Founder/CEO of Kuda, said the company, and indeed the entire staff of Kuda, were excited at winning the Africa Fintech Summit’s 2023 Excellence In Digital Banking award. He said the recognition was an acknowledgement of the commitment and resilience of the Kuda team to building innovative solutions that increase access for Africans living on the continent and those in the Diaspora to enjoy affordable and 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 congratulated fellow nominees and expressed gratitude to everyone who voted for Kuda to win the award. He also thanked the AFTS team for the recognition, while assuring that the Kuda team will keep up the good work.

“It’s no small feat to beat out four other fast-rising African fintechs 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 enthused further.

AFTS is the largest bi-annual gathering of financial technology stakeholders on the African continent: welcoming over 4,000 stakeholders from across over 100 countries since its first summit in early 2018. The AFTS was founded in 2017 with the mission of bringing the issues, trends, and changemakers impacting Africa’s financial technology ecosystem together.

Kuda is a fintech company operating in Nigeria and the United Kingdom. Co-founded by Babs Ogundeyi and Musty Mustapha in 2019, Kuda is valued at US$500 million and has raised over US$90 million from investors including Target Global and Valar Ventures.