Kuda Bank Boosts $37m Financing Deal For Initial Investors

One of the investors, SM River, the consortium consisting of Raj Kulasingam, Haresh Aswani, Vishal Agarwal and Alwin Magimay, which acted as lead investor of Kuda’s USD1.6m pre-seed round, took the opportunity created by the secondary sale to realise a material return on their early investment.

Commenting on the transaction, Babs Ogundeyi, Kuda Founder & CEO, said, “It was important to give Kuda’s earliest investors an exit opportunity, and we are delighted that we have been able to repay their early backing of the company with a material return on their investment. We are particularly grateful for the foresight shown by SM River in recognising the potential in Kuda during the company’s earliest days.

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