Nigerian fintech startup, Nomba, secures $30m pre-Series B round to support African businesses 


Nomba, a Nigerian payment startup, has raised $30 million in a pre-Series B fundraising round to help it deliver customised payment solutions to African businesses.

Cofounder, Yinka Adewale disclosed the funding in a statement on Wednesday. 

Nomba, formerly known as Kudi, was established by Yinka Adewale and Pelumi Aboluwarin in 2017. Since then, it has grown into a successful omnichannel payment solution provider.

According to the startup, the new equity funding round was led by San Francisco-based Base10 Partners, with participation from Helios Digital Ventures, Shopify, Partech, and Khosla Ventures.

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Speaking on the essence of the fund, Nomba noted that it “will use the investment to deliver payment solutions that have been designed for the specific services that businesses provide. 

“In addition, it will enable businesses to plug gaps in their payment processes, while upscaling their services to operate more efficiently and deliver excellent customer experiences.”

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The company offers a variety of payment solutions, management and banking tools, and other services to more than 300,000 businesses to help them run their operations more efficiently.


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