Kuda's Financial Performance in 2022

 *Net Loss*: Kuda, a Nigerian neobank, recorded a net loss of $32 million in 2022, despite a significant surge in revenue.

 *Revenue Growth*: The company's revenue increased by 190% to $22 million in 2022, up from $7.7 million in 2021.

 *User Base Expansion*: Kuda's user base doubled to 4.9 million in 2022, indicating successful product expansion and market entry strategies.

 *Operational Costs*: The net loss was primarily driven by increased staffing and operational costs.

 *Sufficient Funds*: Despite the loss, Kuda maintains it has sufficient funds to break even and is not seeking additional financing.

 *Product Expansion*: Kuda has focused on product expansion, including international remittances, and aggressive market entry into the UK, Canada, Ghana, Tanzania, and Uganda.

 *Customer Growth*: The customer growth indicates that Kuda's focus on product expansion and market entry has paid off.

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