Nomba ,a Nigerian payment service provider formally known as Kudi has secured $30 million pre-Series B investment round aimed at funding tailored payment solutions for African businesses.
The funding round was led by San Francisco-based Base10 Partners, with participation from Helios Digital Ventures, Shopify, Partech and Khosla Ventures.
Nomba CEO Adeyinka Adewale said that the company is exploring pan-African expansion, saying, “We’re looking at a couple of markets, but it’s too early to share anything.” “It’s something that we’re spending a lot of time on.”
The new investment will enable Nomba to provide tailored payment and operational solutions targeting specific businesses, including food companies and restaurants, as well as logistics and transport companies.
Since its launch in 2017 by Yinka Adewale and Pelumi Aboluwarin , Nomba has grown into a profitable, omnichannel payment service provider which offers more than 300,000 businesses with a wide range of payment solutions, as well as management and banking tools that enable better business processes and support business owners to be better at doing business. It processes US$1 billion in monthly transactions, which represents a market leading gross transaction value (GTV) for a payment service provider in Africa.