What is The News About?
Kudos, a Los Angeles, provider of an AI-powered smart wallet service, has secured $10.2 million in Series A funding. Kudos expanded its yearlyized checkout gross merchandise volume to over $200 million and went from 1,000 beta testers to 200,000 registered users since 2022. With consumers increasingly seeking smarter financial management solutions, Kudos is well-positioned to meet this demand by offering a seamless and intelligent solution for optimizing credit card rewards.
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In addition, there are a few new features like MariaGPT, an AI-powered tool that recommends and indexes more than 3,000 cards; Dream Wallet, which suggests cards to users based on their spending habits; and Kudos Boost, which adds personalized cash-back rewards to credit card rewards from more than 15,000 partner brands and retailers.
Why Is It Important?
Except the statement “We are still in the early stages of revenue generation,” Anazodo chose not to provide any details regarding the increase in revenue. As a result of all that expansion, investors decided to increase their funding. Kudos’s $10.2 million Series A is again being led by QED Investors. Patron, founded by Brian Kelly of The Points Guy, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund are all joining forces. Thanks to this latest investment, kudos has now received $17.2 million in venture-backed finance.
After Anazodo and Ahmad Ismail worked together at Affirm and Google, they co-founded Kudos. They appeared at TC Disrupt in 2022 as part of the Battlefield 200.
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