In a country where traditional banking often feels slow, stressful and out of reach, Babs Ogundeyi saw a gap and chose to build a solution around it.
Before launching a digital bank, he built a strong foundation across finance and technology, with experience spanning investment banking and global markets. That exposure shaped his understanding of how financial systems work and, more importantly, where they fall short for everyday users.
Instead of staying within established systems, he set out to challenge them.
That decision led to the creation of Kuda, a fully digital bank designed to simplify how Nigerians manage their money. No physical branches, no unnecessary charges, no complicated processes. Just a clean, mobile-first experience that puts control directly in the hands of users.
From free transfers to automated savings features and real-time spending insights, Kuda positioned itself as more than just a bank. It became a financial tool built around convenience, transparency and everyday use.
The early days were not without challenges. Building trust in a system without physical offices required strong credibility and consistent performance. There was also the pressure of competing with long established banks that already dominated the market.
But Kuda leaned into what made it different. It focused on user experience, speed and simplicity. That focus paid off.
In 2021, the company raised significant funding from global investors, pushing it into unicorn status and placing it among Africa’s most valuable startups. This was not just a win for the company but a signal that African fintech was gaining serious global attention.
Today, Kuda serves millions of users and continues to expand its offerings while maintaining its core identity as a customer-first digital bank. Its growth reflects a larger shift across Africa, where technology is breaking down traditional barriers and making financial services more inclusive.
Babs Ogundeyi’s journey is a reminder that innovation does not always come from creating something entirely new. Sometimes, it comes from taking something familiar and making it work better for the people who use it every day.
