Nomba is an omnichannel payments and business-management platform that supplies POS terminals and software tools to agents, small and medium businesses, and enterprise customers in Nigeria. The company pivoted from Kudi — originally launched as a chatbot for financial requests in 2016 — to an agency banking and payments model that enabled cash withdrawal, transfers and bill payments via a network of agents. Products are segmented by merchant size, from agent/unit merchants to medium businesses and enterprises, offering dashboards, reconciliation, APIs, invoicing, order and inventory management. Nomba says over 300,000 businesses use at least one Nomba-powered product and that it processes $1 billion in monthly transactions; revenues have grown 150% year-over-year since 2020. The company plans product expansion including a yet-to-be-launched Nomba MAX POS device that combines payments with menu, inventory and order management, and aims to deliver tailored vertical solutions for restaurants, logistics and transport. Nomba is also exploring pan-African expansion while continuing to build software to reduce operating costs and improve business visibility for merchants.

Total raised

$30M

Funding rounds

1

Latest round

Series B

Latest activity

May 2023