In a Series A funding round led by QED Investors for its AI-powered smart wallet and shopping assistant, Kudos has raised $10.2 million.
Among other investors are The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, Patron, Newtype Ventures and the Four Cities Fund.
The app and browser extension of Kudos act as a smart wallet assistant that helps shoppers choose the best credit card to use for maximum rewards and cashback.
Here are some new features that the company added:
- Dream Wallet: Based on their spending habits, recommends cards to fill gaps in a user’s wallet.
- MariaGPT: This AI tool helps users find the best cards from a database of over 3000 options.
- Kudos Boost: Offers personalized rewards from over 15,000 brands including Walmart and Sephora.
Since its seed funding, Kudos has grown to over 200k users and increased its annual checkout Gross Merchandise Value to $200m.
With the new funding Kudos plans to:
Launch an AI powered hub for spending optimization insights
Expand MariaGPT into a general purpose personal finance assistant
Create a portal for booking flights with points
“Consumers want to get the most value as they manage budgets and multiple credit cards; Kudos makes it simple with an easy-to-use app and extension,” says Tikue Anazodo CEO of Kudos.
Source: finextra
