African payment service provider Nomba raises $30M, backed by Base10 Partners and Shopify

by Digital Brainiacs
0 comment 2 minutes read

Nigerian payment service provider Nomba has raised $30 million in a pre-Series B investment to support the delivery of bespoke payment solutions for African businesses. The round, which values the company at $150 million+ according to YCombinator data on its most valuable companies, was led by San Francisco-based Base 10 Partners

Partech and Khosla Ventures, existing investors from its $5 million Series A round in 2019, participated, as well as new backers, including Helios Digital Ventures and Shopify, which might be making its first investment on the continent through the Nigerian fintech outfit.

Last May, the YC-backed Nomba, founded by Adeyinka Adewale and Pelumi Aboluwarin, underwent a rebrand from Kudi, which launched as a chatbot integration that responds to financial requests on social apps back in 2016. It was an online solution that has since been adopted in bits by various fintechs but struggled to attain massive scale in an African country where 90% of transactions in the informal…

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