HomeStartupsSudo Africa, Fintech Start-up Raises $3.7Million Pre-Seed Funding for Card-Issuing API Platform Innovations Sudo Africa, Fintech Start-up Raises $3.7Million Pre-Seed Funding for Card-Issuing API Platform The Fintech’s space has democratized the financial sector. This feat has enabled the banking and other financial players to innovate and expand the financial sector. There has been better services rendered by financial innovators in the Fintech’s space. The API card is API that could be use to produce debit, credit, procurement, virtual, and ghost cards. Giving your own cards or customizing your cards for your employees would give a robust payment solutions and minimize or eradicate fraud. Credit card fraud is a menace in the financial world. According to Nilson Report, it could reach $32.6Billion globally by 2021. Sudo Africa, a fintech start-up that produces card-issuing API for developers and businesses in Nigeria just raised $3.7Million in pre-seed funding. The pre-seed funding round was led by San Francisco located VC firm Global Founders Capital (GFC), assisting in the funding were VC firms like Picus Capital, Loftyinc Capital, Rallycap Ventures, Kepple Africa, Zedcrest Capital, and Suya Venutres. Creating Sudo Africa was born out of a problem the founders Aminu Bakori and Kabir Shittu encountered while trying to issue cards for their previous start-up firm. According to the CEO, “At some point, we wanted to issue cards and worked with one of the local banks in Nigeria.” He further reiterated, ” They got to print up to 1,000 cards, but it took a lot of time and none of them functioned because the bank wasn’t able to provide any APIs for us to either manage the cards or even control the usage of those cards. That was the first time we came around , thinking about how to issue cards.” Sudo Africa is the fintech start-up firm that is bridging the card issuing business in Nigeria fintech space. The gap filled by Sudo Africa Kaduna based start-up firm was dominated by foreign companies like Stripe and other global fintech companies. The innovation of Sudo Africa in the API card issuing has also positioned Nigeria has a prominent player in the continental fintech’s space, the automation of cards for developers and businesses is like icing on the cake for Nigeria fintech’s space. Support PisonTechAfrica.com For inspiring tech content and articles, PisonTechAfrica.com is the platform to go. Great content takes a lot of resources; we are poised to motivate young start-ups and give them leverage with our platform. It is a platform for inspiring tech entrepreneurs to display their talents. Africa is the next big thing for technology. PisonTechAfrica.com is the tech media platform committed to positioning Africa in the Fourth Industrial Revolution. Donate Oluwagbenga Oyebanji Share This Previous ArticleEarnipay HR Tech Start-up Raises $4M to Assist Employees Salary Next ArticleDash Ghana's Fintech Start-up Raises $32.8Million to Integrate Payment Wallets for Africans March 4, 2022
