Kudos Secures $10.2 Million To Enhance AI-Powered Smart Wallet Capabilities
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Kudos has secured $10.2 million in a financing round spearheaded by QED Investors. The funding will support the development of Kudos, an AI-driven shopping assistant and Smart Wallet.
Other contributors to the round include the Four Cities Fund, Newtype Ventures, The Mini Fund, Precursor Ventures, SV Angel, Samsung Next, Founder of The Points Guy, Brian Kelly, and Patron.
The Company Has Boosted Its Yearly Checkout Sales Volume To $200 Million
Established in 2001 by individuals with expertise from Affirm, PayPal, and Google, Kudos is an application and browser extension. It serves as a Smart Wallet assistant capable of suggesting or automatically choosing the ideal credit card for customers to use for payment to boost their cash back and rewards.
Not long ago, the firm introduced several innovative features. These include like Kudos Boost, for personalized bonuses across more than 15,000 partner brands, such as Walmart and Sephora.
The company also launched Dream Wallet, which automatically suggests cards that bridge gaps in a customer’s wallet shopping practices. Kudos also rolled out MariaGPT, an AI-driven card discovery tool with over 3000 cards in its database.
Since its seed financing round, Kudos has expanded its customer base to more than 200,000 registered members and boosted its Yearly checkout sales volume to $200 million.
With the fresh funding, the company wants to roll out an AI-enabled platform offering insights to optimize expenses, introduce a portal enabling users to book flights using points, and develop MariaGPT into a multi-purpose personal finance assistant.
The Chief Executive Officer of Kudos, Tikue Anazodo, stated that customers strive to make the most of their finances while managing budgets, several credit cards, and confusing rewards systems. He added that Kudos makes everything simpler with one user-friendly application and extension.
Kudos Aims To Expand Its Product Range And Market Footprint
As part of the financing, Amias Gerety, a QED Investors associate, becomes a member of Kudos’Kudos’ board of executives.
Anazodo noted that QED Investors were chosen to spearhead the round due to its profound fintech knowledge.
He added that the firm’s strategic insights, wide-ranging network, and proven history in developing successful fintech organizations, like spearheading Credit Karma’s Series A round, made it the perfect partner. This will help the team at Kudos navigate the next stage of growth.
Besides enhancing its product range, Kudos wants to expand its market footprint. As consumers continue to seek clever ways to manage their finances, Kudos is well prepared to meet this requirement by providing a simple and intelligent solution for improving credit card rewards.
