fintech firm sudo africa raised $3.7M in pre seed funding

• ByStartupStory     |    March 4, 2022

Sudo Africa announced that it had secured $3.7 million in pre-seed funding on march 3.  Picus Capital, LoftyInc Capital, Rallycap Ventures, Kepple Africa, Berrywood Capital, ZedCrest, Suya Ventures, Olugbenga’ GB’ Agboola, Ham Serunjogi, and Odun Eweniyi participated in the round which was led by Global Founders Capital (GFC).Sudo Africa is a Nigerian fintech firm that offers a card-issuing API to developers and enterprises. Sudo Africa established a technology that provides cards to users in days rather than weeks or months, addressing the issue of bank delays. The platform offers virtual and real cards to developers and merchants for a fee. Customers may program their cards, control them, and develop the features they want.

Aminu Bakori and Kabir Shittu founded Sudo Africa in 2020 and is based in Barnawa, kudana.The founders mentioned in an interview that when dealing with the challenge of issuance while operating their prior firm, they spotted an opportunity to establish a platform to alleviate the problem of card delays. On the other hand, Sudo Africa has much more than just card issuing built into its platform.  business and program cards to their liking, develop functionality, and securely link with other services on the platform.

Sudo Africa’s clients, according to the founders, come from a wide range of industries, including Fintechs, microfinance banks, non-tech enterprises, government organizations, logistics firms, commercial banks, and e-commerce corporations. Sudo Africa is reportedly the only brand in the industry that only sells Nigerians virtual and physical cards. The firm intends to expand into other african nations with this financing

Customers can program Sudo Africa’s cards API to regulate or limit spending and track transactions, making them ideal for companies to distribute to their staff for expense management. Employees will be unable to buy from an illegal supplier or spend more than the allowed amount if the cards are programmed to a particular service or connected to a specific supplier for a specific amount.

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