Nomba
“Can Nomba become the cross-border financial OS for African SMBs by owning both collections (into Africa) and payouts (across Africa)?”
Founded2016
HQLagos, Nigeria
FoundersAdeyinka Adewale, Pelumi Aboluwarin
Total raised$35M+
Latest roundPre-Series B, 2023
Valuation$150M+ (2023)
IndustryFintech / SMB banking
The story
Founded 2016 as Kudi, a chatbot answering financial requests on social media, Nomba rebranded in 2022 to focus on POS terminals and merchant banking for Nigerian SMBs. The company has since evolved into a multi-product business banking platform, layering checkout, multi-currency accounts, treasury yield, cross-border collections (via Volume open banking in the UK), global payouts, and a bank-partnered lending program with Globus Bank. The strategic question now is whether Nomba can become the financial OS for African businesses, owning both collections and payouts across corridors.
Product timeline
2016
Launched as Kudi, a chatbot for financial requests on social messaging apps· pivot
2022
Rebranded from Kudi to Nomba, pivoting to business payments and POS terminals· pivot
2023
Raised $30M pre-Series B led by Base10 Partners at $150M+ valuation· funding
2026
Disclosed N21.3B SME lending portfolio with sub-1% NPL in partnership with Globus Bank· lending
2026
Partnered with UK open banking provider Volume for GBP collections from UK banks· banking
The stack
7 layers disclosed in Nomba’s embedded-finance stack
Payments / PSP
Nomba Checkout (self-operated)Nomba Smart POS (self-operated)Nomba Charge API (self-operated)
Money movement
in the full report
Banking / BaaS
in the full report
Lending
in the full report
Open banking
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: significant
8 more providers across 6 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.