Kudos, a Los Angeles, CA-based fintech startup that provides an AI-powered smart wallet, secured $10.2 million in Series A funding, bringing its total raised to $17.2 million.
Investors
The round was led by QED Investors, with participation from Patron, The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund.
Founded in 2007, QED Investors is a venture capital firm based in Alexandria, Virginia. The firm seeks to invest in companies operating in the financial services, and fintech sectors in the U.S., the U.K. and Europe, Latin America, India and Southeast Asia, and Africa.
With the latest round of funding, Amias Gerety, a partner at QED Investors, has joined Kudos' board of directors.
Kudos Use of Funds
The company will use the funding to develop new AI-powered services for its smart wallet, expand MariaGPT into a general-purpose personal finance assistant, create a portal for members to book flights using points through Kudos, and grow the team from 11 to 14 employees.
About Kudos
Founded by Tikue Anazodo and Ahmad Ismail, Kudos aims to help consumers maximize their rewards and benefits from credit card usage through an AI-powered smart wallet. The company leverages artificial intelligence to analyze consumer spending habits and provides personalized financial advice, such as optimizing rewards and effectively utilizing credit. Kudos introduced new features like MariaGPT, indexing over 3,000 cards; Dream Wallet, offering personalized card recommendations; and Kudos Boost, providing personalized cash-back rewards across 15,000+ brands. Since its inception, Kudos has expanded its user base from 1,000 beta testers to 200,000 registered users.
Funding Details
Company: Kudos Technologies, Inc.
Raised: $10.2M
Round: Series A
Funding Month: May 2024
Lead Investors: QED Investors
Additional Investors: Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, the Four Cities Fund
Company Website: https://www.joinkudos.com/
Software Category: AI Wallet
Source: https://techcrunch.com/2024/05/17/kudos-ai-smart-wallet-10m-credit-card/