Nomba: from Kudi to a thriving ecosystem
...a $30 million raise
Nomba started out as “Kudi” in 2016. A journey from simplifying access to financial services through a chatbot integration that responds to financial requests on social apps to building an ecosystem that simplifies how businesses accept payments, make payments and manage operations.
Now valued at over $150 million, Nomba has recently raised a pre series B round of $30 million.
The company has provided targeted business solutions for 3 categories of businesses which are really small businesses, medium sized businesses and large businesses.
Providing agents and retail business owners with POS terminals, including cash withdrawals and bills features that can be monitored from a Nomba account dashboard.
Providing medium sized businesses with POS terminals including tools that help with bank reconciliations and transaction tracking.
Providing large businesses with POS terminals and software tools for invoicing, inventory management, reconciliations and payment processing.
By providing businesses with unique solutions, Nomba has been able to grow its revenues by 150% y-o-y since 2020.
With its recent raise, Nomba is looking to get more up close and personal with its unique offerings by creating unique products for specific types of businesses, food companies, restaurants, logistics, transport companies. Talk about restaurants accessing menus, inventory, payments and so on from the same device (POS).
Exciting to see what other innovative products this fintech has in store for the business world. We hear an expansion into new markets is also in view.
So what?
The story of Nomba's journey is not just an interesting ongoing success story, but it also highlights the impact of fintech on businesses in Nigeria and Africa as a whole.
The power of fintech in driving financial inclusion in a continent where so many people are unbanked, by providing the services it does, Nomba has made it easier for businesses to access financial services and grow their businesses.
As more companies like Nomba continue to innovate and provide unique solutions to businesses, we can expect to see even more exciting developments in the years to come, with the potential to drive economic growth and development across the continent.