Kudos, a Los Angeles, a provider of an AI-powered smart wallet service, has secured $10.2 million in Series A funding.
According to Silicon Valley Journals, the investment round was led by QED Investors, with participation from Patron, The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund.
The AI-powered smart wallet service offered by Kudos acts as a comprehensive smart wallet assistant for consumers, recommending or automatically selecting the best credit card to use for maximizing rewards and cashback. With over 200,000 members already utilizing its services, Kudos aims to enhance its smart wallet capabilities with the new funding.
CEO Tikue Anazodo stated, “We plan to use the funds to roll out new services that will enhance our smart wallet capabilities.” Recently, Kudos introduced several new features, including MariaGPT, an AI-powered card discovery tool, Dream Wallet, which recommends cards based on spending habits, and Kudos Boost, delivering personalized rewards across partner brands like Walmart and Sephora.
Founded in 2021 by a team with experience from Google, PayPal, and Affirm, Kudos is available as a browser extension and as an app in the Apple App Store. This latest funding round will enable the company to expand its feature set and improve the overall user experience, aligning with the broader trend towards leveraging technology to enhance personal finance management.
In addition to product enhancements, Kudos aims to invest in expanding its user base and increasing its market presence. 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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