TechInAfrica – A Ghanaian FinTech and big data startup, KudiGO, has announced that it has secured $450K of a seed investment round led by Founders Factory Africa (FFA) and three angel investors from Ghana, Nigeria, and the United States.
KudiGO offers digital payment service through Mobile Money, Card-POS, QR, and USSD operating in Ghana and Nigeria. The announcement of the seed investment came after its achievement of 1K businesses through its platform in both countries.
KudiGO was among the six fintech startups that joined the Founders Factory Accelerator Program, its first cohort in Africa. The program is a fully corporate-backed accelerator and incubator which aims at helping 140 tech startups across four sectors to grow and scale over the next five years. The first investor of FFA was Standard Bank which has joined since October last year.
Being one of the investors in KudiGO, Founders Factory Africa (FFA) has committed to help the startup to scale up through a six-month acceleration program that will include tailored support from a specialist team in product design, data science, tech engineering, growth marketing, investment, etc.
Furthermore, KudiGO will also get access to global capital, talent and knowledge transfer via the Founders network including world-class entrepreneurs, investors, and well-established startups across Africa, Europe, the UK, and the US.
FFA and Standard Bank Group come as direct investors and strategy partner for KudiGO, This not only beneficial for KudiGO in terms of capital, but also an opportunity for the investors to open channels and markets to drive innovation and positive impact through its solution.
“Having successfully closed this initial investment round, we are focused on achieving our year-end target of 5,000 businesses on our platform, achieve a 40% business growth for these businesses by virtue of using our solutions, rolling out our credit referencing and micro-lending modules specifically targeted at users of our platform in partnership with our strategic partners and investors,” said Kingsley Abrokwah, CEO of KudiGO.