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Ditch Reward Confusion: AI Picks Best Credit Card (Kudos Gets $10M)

From the days of cutting coupons out of newspapers to searching online for a discount code, shoppers are always looking for advantages and benefits. 

One of the businesses assisting us in doing that is Kudos. It has developed a smart wallet with AI capabilities that suggests the best credit card to use to optimize rewards and cash back transactions. 

According to Device Insider, Tikue Anazodo, co-founder and CEO of Kudos, the company employs artificial intelligence to identify consumer purchasing patterns. From there, it can offer more individualized financial advice, such as optimizing rewards and sensible credit utilization. 

Similar to Honey, users can raise $7 million in seed funding from investors including Patron, QED Investors, SciFi VC, and SV Angeln to access Kudos through an app and browser extension. In this field, firms like MaxRewards, Power, Bilt Rewards, and Kard are also developing. 

Ditch Reward Confusion: AI Picks Best Credit Card (Kudos Gets $10M)

According to Anazodo, who emailed us, most of our clients said that Kudos was similar to using “Apple Pay, Honey & Credit Karma, all in one app”. ” “By using state-of-the-art AI, we can discover customized shop offers for you, handle payment matters accurately, and advise you intelligently on finance. “

After collaborating with Ahmad Ismail at Google and Affirm, Anazodo launched Kudos. Later, in 2022, they participated in TC Disrupt’s Battlefield 200 exhibition.

Last year the company raised $7 million in funding from investors such as Patron, QED Investors, SciFi VC, and SV Angel. Device Insider has published a profile on the business. While in the beta stage, Kudos had user growth at 36% per month and retention at 90%.

According to Anazodo, Kudos has expanded from 1,000 beta testers to 200,000 registered users since 2022, and the annualized checkout gross merchandise volume has risen to nearly $200 million. 

Moreover, its card management solution is enhanced by Dream Wallet, which provides individual card recommendations by a consumer’s spending patterns; MariaGPT, an AI-driven tool for searching and selecting from over 3,000 cards; and Kudos Boost gives users loyalty rewards besides their credit card rewards by select partners and retailers over 15,000.

“It is worth noting that we are at an initial stage of revenue collection,” Anazodo said, instead of giving a detailed explanation of how money will be raised.

Investors increased their investment in the company as a result of all that expansion. Returning to head Kudos’s $10.2 million Series A funding round is QED Investors. The investor base has expanded with support from Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, the Four Cities Fund, etc. On the other hand, the founder of The Points Guy, Brian Kelly will also attend. Now Kudos has concluded its next round of funding with a total of $17M. 2 million dollars worth of venture capital in total.

 Anazodo stated that the current valuation is more than twice as much as the initial valuation, but he would not provide exact valuational figures. 

The business plans to keep its staff small. In 2022, there were 11 employees; today, there are 14. In order to keep customers from having to quit Kudos, it will invest money in new AI-powered services for its smart wallet product and develop MariaGPT into a comprehensive personal finance assistant and a portal that lets users book flights using points. 

AI Picks Best Credit Card (Kudos Gets $10M)

Amias Gerety, a partner at QED Investors, joins Kudos’ board of directors in connection with the transaction. 

Anazodo stated, “We selected QED Investors to lead the round due to their extensive fintech knowledge and their strong belief in our vision for Kudos.” “They are the perfect partner to help us navigate this next phase of growth because of their strategic insights, vast network, and demonstrated track record in scaling successful fintech companies, such as leading Credit Karma’s Series A.

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