AI-Powered Kudos Wallet Raises Oversubscribed $10.2 Million Series A
Friday, 17 May 2024 08:00 AM
Topic: Financing
Smart shopping assistant, which has increased its customer base to 200,000 in less than 18 months, helps consumers maximize the value of every dollar they spend
LOS ANGELES, CA / ACCESSWIRE / May 17, 2024 / Kudos, the AI-powered smart wallet that automatically maximizes consumer rewards and benefits on every purchase, today announced it has completed a $10.2 million Series A fundraising round. The oversubscribed round was led by QED Investors, a previous investor in the company. Additional participants included returning investor Patron, as well as The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures and the Four Cities Fund. Kudos intends to use some of the funding to roll out various new services that will augment its quickly evolving smart wallet product.
“Consumers want to know they’re getting the most for their money as they juggle budgets, multiple credit cards and rewards systems that can be confusing. Kudos simplifies all of that with one easy-to-use app and extension. We’re proud that both QED Investors and Patron returned to participate in this round, signaling their confidence in our current growth and future plans,” said Tikue Anazodo, co-founder and CEO of Kudos. “This latest investment allows us to continue expanding our services to more consumers and merchants.”
Kudos acts as a comprehensive smart wallet assistant for consumers. It can recommend or automatically select the best credit card for them to use when paying to maximize their rewards and cash back. Recently, the company launched several new features, including MariaGPT, an AI-powered card discovery tool with over 3,000 cards currently in its database; Dream Wallet, which automatically recommends cards that fill gaps in a member’s wallet based on their spending habits; and Kudos Boost, which delivers personalized rewards that augment card rewards across over 15,000 partner brands, including Walmart and Sephora.
“Kudos is using AI to finally unlock the promise of ‘self-driving money.’ Unlike traditional personal finance apps, their ‘always-on’ approach delivers value to consumers, merchants and card issuers, without requiring a change in behavior. Kudos gives consumers the ultimate peace of mind as they shop.
