Kudos, a company revolutionizing the way consumers maximize rewards and cash back while shopping, has recently secured $10.2 million in Series A funding led by QED Investors. This brings their total venture-backed funding to $17.2 million, showcasing the growing interest in their AI-powered smart wallet.
Founded by Tikue Anazodo and Ahmad Ismail, Kudos uses artificial intelligence to analyze consumer spending habits and provide personalized financial advice. With features like MariaGPT, Dream Wallet, and Kudos Boost, users can optimize their credit card usage and earn additional rewards on purchases.
Since its inception, Kudos has seen significant growth, expanding from 1,000 beta testers to 200,000 registered users. The company has also increased its annualized checkout gross merchandise volume to over $200 million, indicating a strong demand for their services.
The new funding will be used to further develop Kudos’ AI-powered services and expand their offerings, including turning MariaGPT into a general-purpose personal finance assistant. With a lean team of 14 employees, Kudos aims to continue providing innovative solutions for consumers looking to make the most of their shopping experience.
As part of the investment, Amias Gerety from QED Investors will join Kudos’ board of directors, bringing valuable expertise in the fintech industry. With a focus on growth and innovation, Kudos is poised to become a leader in the rewards and cash back space, offering consumers a seamless and personalized shopping experience.