#72: Nomba (Kudi) - How the Nigerian FinTech is providing Point-of-Sale, agency banking and payment solutions to merchants across Africa

Overview: Today, we’re going to talk about Nomba (formerly known as Kudi) , the FinTech payments solutions provider. We’ll explore the story across the following areas: African & Nigerian SME context Nomba's early history  Product & monetization strategy Competitive positioning & potential exit options Our overall outlook. This episode was recorded on December 3, 2023 Companies discussed: Nomba (Kudi), MoniePoint (TeamApt), Yoco, Kuda Bank, Flutterwave, Paystack, Stripe, Safaricom, Brass Banking, TradeDepot, Sabi, Paystack, Flutterwave, MTN, Airtel, Bumpa, Vendease, Orda, OPay, OnePipe, Paga, FairMoney, Omnibiz, Interswitch & Kippa Business concepts discussed: SME Agency Banking, Informal retail, banking, Open banking & Mobile Money, Merchants solutions, Points-of-Sale devices, SME Lending & hardware and software bundling Conversation highlights: (01:25) - Nomba context (06:29) - Context of African SMEs and Informal retail (19:10) - Founding story and founders’ background (29:02) - Fundraising (43:07) - Partnerships, Geographical expansion and Team (47:55) - User metrics (52:55) - Product and Monetization strategy (1:02:24) - Competition and options for exit (1:12:35) - Olumide’s overall thoughts and outlook (1:18:50) - Bankole’s overall thoughts and outlook (1:24:40) - Recommendation and small wins  Olumide’s recommendations & small wins: Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [email protected]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [email protected] Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook) Recommendation: Jay-Z at Madison  Square Garden. Incredible. He performs so many of his hit songs with an ensemble of other artists. I was jumping of my chair rapping along. Recommendation: Charlie Munger died last week.. What a hero. What a legend. What a mind. I love the guy. I can recommend all his books and videos Bankole’s recommendations & small wins: Recommendation: Constellation Software on Business Breakdowns Small win: Running in Paris and Ray-Ban Meta glasses Listeners: We’d love to hear from you. Email [email protected] with feedback! Founders & Operators: We'd love to hear about what you're working on, email us at [email protected] Investors: It would be great to link up with you. Contact us at [email protected] Join our insider mailing list where we get feedback on new episodes & find all episodes on Afrobility.com