Kuda Technologies, the challenger bank for Africa, has raised $55 million in a series B fundraising round co-led by Valar Ventures and Target Global, with participation from the company’s existing backers including SBI and several angel investors.

The raise comes just four months after Kuda’s $25 million series A round, completed around the time the bank hit the 650,000-customer milestone.

Launched in Nigeria in 2019, Kuda has grown to have more than 1.4 million customers an...