Nigeria: Kuda, Target Global to Facilitate Funding Opportunities for Start-Ups

17 June 2021

Kuda, a Berlin-based international venture capital firm with over 1.5 billion euros in assets under management, and Target Global's have revealed plans to fund start-ups in Nigeria.

This was revealed when Kuda brought together founders of several Nigerian start-ups and local technology investors at an exclusive interactive session held in Lagos.

Co-hosted by Kuda Technologies, a digital-led bank for Africans and Target Global's first investment in Africa, the event highlighted the growing stream of foreign direct investment into Nigeria's start-up scene and opened up new avenues for fund raising to local founders.

Speaking at the event, Ricardo Schaefer, a partner at Target Global, reiterated the firm's commitment to funding Nigerian start-ups.

He said, "We're excited about any founder with big ambitions and we're looking for start-ups with big outcomes."

The CEO of Kuda Technologies, Babs Ogundeyi, stated: "Target Global has been a valuable partner in Kuda's rise to relevance, even beyond making sizable investments in both its seed and Series A fundraising rounds.

"Target joining us corroborated all the things my team and I believed. Our journey has been fuelled by a really good investor that believes in us, and I'm even more confident that we're going to build the biggest bank for every African on the planet."

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