Kuda Processes ₦14.3 Trillion in Q1 2025, Marking Significant Growth
Nigerian neobank Kuda has revealed impressive transaction volumes for the first quarter of 2025, underscoring its growing influence in the financial landscape. The fintech company processed over 300 million transactions, totaling a staggering ₦14.3 trillion, across both its retail and business banking services. This disclosure offers a deeper insight into Kuda’s operational performance, exceeding previous updates focused solely on customer acquisition.
Kuda’s Transaction Breakdown and Overdraft Performance
Kuda CEO Babs Ogundeyi announced these figures during a media briefing in Lagos, providing a breakdown of transaction values. Retail banking accounted for ₦8.5 trillion, while business users contributed ₦5.8 trillion. This marks the first time Kuda has shared specific financial metrics beyond its group financial statements. Previously, the company had reported a user base exceeding 7 million as of January 2024. Since its launch in 2019, Kuda has processed a total of ₦55.8 trillion. Furthermore, Kuda reported issuing ₦16.4 billion in overdrafts during Q1 2025. This puts the company on track to surpass its total overdraft issuance for 2023, which amounted to $12.6 million.
These figures demonstrate Kuda’s significant growth and its increasing role in facilitating financial transactions for both individuals and businesses in Nigeria. The neobank’s focus on accessibility and innovative financial solutions continues to drive its expansion and solidify its position in the competitive fintech market. The detailed operational update provides valuable insights into Kuda’s performance and its contribution to the evolving digital economy in Africa.
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