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#BellaNaijaMCM Yinka Adewale is Building a “Digital Bank” With Kudi

BellaNaija.com

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The FinTech industry is one of the fasting growing sector in the Nigerian tech space and our #BellaNaijaMCM this week is one of the people contributing to that growth.

Yinka Adewale is the founder of Kudi, a channel for funds transfer and bills payment that are accessible to everyone.

Yinka founded Kudi with Pelumi Aboluwarin in 2017, and initially, they created a chatbot, to make money transfers and online bill payments easier.

Soon, they saw a bigger problem: the large number of unbanked Africans. They decided to do something about it. They built a product that converts cash to digital and digital back to cash for the individual who does not have access to banks.

They built an agent network that allows customers make digital payments, top-up airtime, send and even withdraw money.

With the agents, the customer is linked with the app, digitising cash and vice versa.

In April 2019, Kudi raised a $5 million Series A funding round led by Partech Partners. The company says it’ll use the fund to expand its team and grow its agent network, to help achieve its grand goal – becoming a digital bank.

Yinka holds a Bachelors degree (Mechanical Engineering) from Obafemi Awolowo University and has been active in the software development/entrepreneurship space in Nigeria since 2012.

He worked as a software developer at Clinicbell, a messaging platform for hospitals to engage their patients.

He went on to found Clinicfy, “a cloud-based financial software for hospitals to track their revenues and invoices for both walk in patients and health insurance patient.”

Yinka was also an Entrepreneur in Residence at Venture Garden Group.

Yinka is disrupting the financial services space and we’re rooting for him.

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