Babs Ogundeyi is the CEO and Co-founder of Kuda Bank, Nigeria’s first full-service digital-only bank licensed by the Central Bank with a mission to make banking more accessible and affordable. He has strong expertise in the financial services sector, having previously spent years auditing and advising some of Africa’s biggest banks.
Babs Ogundeyi Biography, Wiki
Babs Ogundeyi is Chief Executive Officer and Co-founder of Kuda Bank, Nigeria’s first digital-only bank that makes banking more accessible and affordable.
Babs Ogundeyi Education
Babs Ogundeyi has an impressive educational background. He holds a bachelor’s degree in Business Studies and Accounting from Brunel University, London.
Babs Ogundeyi Career
Before Kuda, Babs cofounded Kudimoney, Nigeria’s first online lending and savings platform before receiving license from the Central Bank of Nigeria and rebranding to Kuda in 2019.
Babs was also Special Adviser to the Oyo State Government on Finance from 2011-2015. As Special Adviser, he served as Head of the state’s Microfinance Bank, transforming it from a $2 million loss position into a profit-making entity within four years. He was as well responsible for raising capital in the state and successfully led the largest Bond raise in the state’s history – a ₦55 billion bond program. Babs also successfully set up the Public-Private Partnership (PPP) office and Debt Management Office (DMO) and created products to effectively boost Internally Generated Revenue.
As a value-driven entrepreneur, Babs also cofounded Motor Trader Nigeria, the first classified car magazine in Nigeria, which was sold to a major Newspaper company after one year of launch.
Babs is recognized as one of Nigeria’s top 10 covid-19 innovators for his efforts in curbing the effects of the pandemic. In 2020, his mobile banking outfit launched a ₦1.5 million Covid-19 fund targeted at catering for the less privileged in Lagos State. During the execution, the bank partnered with Lagos Food Bank, a non-governmental organization to enable more transparency, responsibility and diligence.
Babs Ogundeyi’s passion for solving complex problems and creating groundbreaking ways to make life easier is demonstrated in his constant innovation in the financial scene. We celebrate Babs for creating a seamless financial solution in the Nigerian fintech space.
Kuda Bank was launched in 2016 as a lending platform – Kudimoney and rebranded in 2019 when it was licensed by the Central Bank of Nigeria as a full service digital bank. With the banking licence, the bank became Nigeria’s first and only full-stack and mobile-first bank. It raised a $1.6 million funding round last year to power its new operating capacity.
Kuda is a full-service, digital-only bank with offices in London, its HQ, and Lagos. It provides full banking services via its apps which allow everyday Nigerians with internet access to run a spending account, save money automatically without the burden of traditional bank charges. Kuda recently released its first credit product, giving customers access to instant credit via the Kuda app. It also provides customers with free debit cards, delivered at no cost, differentiating it from digital wallets.
Kuda raised $1.6 million in pre-seed funding in the UK in 2019 and is now looking to raise a series A round. In 2020, Kuda launched a COVID-19 fund to provide relief to vulnerable groups in Lagos, a city of over 20 million people.
Babs Ogundeyi Personal Life
Babs Ogundeyi, CEO of Kuda Bank is married. His marriage is bless with children.
Babs Ogundeyi Net Worth
Babs Ogundeyi is yet to be reviewed, but his net worth is estimated to be around $100 million to $500 million.