Nigerian payment service provider Nomba raised $30 million in pre-Series B led by San Francisco-based Base 10 Partners

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Nigerian payment service provider Nomba raised $30 million in pre-Series B led by San Francisco-based Base 10 Partners where Partech and Khosla Ventures and existing investors also participated to support the delivery of bespoke payment solutions for African businesses.

Nomba was rebranded from Kudi, which began in 2016 as a chatbot integration that replies to financial demands on social applications. It was an online solution that has since been adopted in bits by various fintechs but has struggled to achieve massive scale in an African country where 90% of informal economy transactions are cash-based and more than 60 million Nigerian adults are unbanked despite the proliferation of digital financial products.

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Nigerian payment service provider Nomba raised $30 million in pre-Series B led by San Francisco-based Base 10 Partners

Nigerian payment service provider Nomba raised $30 million in pre-Series B led by San Francisco-based Base 10 Partners where Partech and Khosla Ventures and existing investors also participated to support the delivery of bespoke payment solutions for African businesses.

Nomba was rebranded from Kudi, which began in 2016 as a chatbot integration that replies to financial demands on social applications. It was an online solution that has since been adopted in bits by various fintechs but has struggled to achieve massive scale in an African country where 90% of informal economy transactions are cash-based and more than 60 million Nigerian adults are unbanked despite the proliferation of digital financial products.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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