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Nigeria’s Sudo Africa Raises $3.7M Pre-Seed For Its Card-Issuing Api Platform

Mar 03, 2022over 3 years ago

Amount Raised

$3.7 Million

Round Type

pre-seed

Financial ServicesOtherSoftware

Description

Sudo Africa, a fintech that provides a card-issuing API for developers and businesses in Nigeria, has raised $3.7 million in pre-seed funding.

Company Information

Company

Sudo Africa

About

Say a company uses Sudo Africa to issue cards for employee expense management; what happens is that employees are given cards with a low balance so whenever they need to use the card, an API is called each time to decide whether to approve or deny that transaction in real time. However, it seems the trio are almost identical, considering the features each company claims to have on their sites.Tiger Global leads $3M round in Zambia’s Union54 for its card-issuing API The company charges interchange fees when its issued cards are used to make a web or POS transaction and takes authorization fees when spending and location-based controls are made. Sudo Africa is currently the only player in this space that offers its virtual and physical cards service solely in Nigeria.

FundzWatch™ Score

81
Medium Activity

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