Nigeria’s first fully digital bank, Kuda, has announced the raising of a $10 million seed fund in a recent investment round. This fund would be the largest seed fund yet to be raised by a tech company in Africa.

Target Global (a European VC) led the funding round and in conjunction with Entrée Capital and SBI Investment. Other notable investors include Raffael Johnen (founder of Auxmoney), Johan Lorenzen (founder of Holvi), Brandon Krieg/Ed Robinson (founders of Stash), and Oliver and Lish Jung (angel investors in Nubank, Revolut, and Chime).

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