March 3, 2022

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

Sudo Africa, an API platform that enables you instantly issue physical and virtual cards with more control and flexibility at scale, has raised $3.7 million in pre-seed funding.

What makes the startup different from others? While banks take weeks or months to give cards, Sudo Africa claims to just take days.

In partnership with licensed card issuers, the company’s infrastructure allows itself and any developer or merchants that come on its platform to issue virtual and physical cards to their customers. And on the platform lets businesses control and program cards to their taste, build their features, and securely integrate with other services. 

Founded by Aminu Bakori and Kabir Shittu in 2020, 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.

This funding round was lead by Global Founders Capital (GFC), other investors are Picus Capital, LoftyInc, RallyCap Ventures, Kepple Africa, Ventures Platform, MSA Capital, Future Africa, BerryWood Capital, ZedCrest, Suya Ventures, and fintech founders from around Africa.

Several African fintech founders such as Olugbenga ‘GB’ Agboola, Ham Serunjogi, and Odun Eweniyi are investors in the company too.

According to CEO and co-founder Aminu Bakori; “We tried to get customized debit cards at our previous startup and could not believe how incredibly hard the process was. And we decided to fix this major headache for other founders and make sure they never go through the unnecessary strain. It is almost unbelievable but even as I speak to you, we still have not gotten the cards and it has been more than two years.”

Speaking to The Guardian Nigeria, he added: “In terms of pricing, with a flat monthly fee of ₦50,000, companies can get onboarded and create virtual cards as low as ₦50 and physical cards for as low as ₦1,000.”

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Abbianca Makoni

Abbianca Makoni is a content executive and writer at POCIT! She has years of experience reporting on critical issues affecting diverse communities around the globe.