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May 28, 2024 485

Kudos lands $10M for an AI smart wallet that picks the best credit card for purchases

#Fintech

"From our days clipping coupons out of the newspaper to doing a search for a coupon code online, consumers are all about finding benefits and perks when shopping."

Kudos is an AI-powered smart wallet designed to recommend the best credit card for maximizing rewards and cashback on purchases. Founded by Tikue Anazodo and Ahmad Ismail, Kudos analyzes consumer spending habits to offer personalized financial advice. Users can access Kudos through an app and browser extension, similar to Honey, and benefit from features like automated payment optimization and personalized merchant offers.

Since its launch, Kudos has grown significantly, with 200,000 registered users and an annualized checkout gross merchandise volume exceeding $200 million. New features include MariaGPT, an AI card discovery tool, Dream Wallet for personalized recommendations, and Kudos Boost for additional cashback rewards. The company aims to maintain a lean team while expanding its AI-powered services and integrating new functionalities.

Kudos recently raised $10.2 million in a Series A funding round led by QED Investors, bringing its total venture-backed funding to $17.2 million. The company plans to use the funds to enhance its smart wallet product and expand MariaGPT into a general-purpose personal finance assistant. With a strategic focus on fintech, Kudos aims to continue its growth trajectory with support from investors and new AI-driven innovations.