Kudos secures $10.2 million in funding to enhance its AI-driven smart wallet offerings

Kudos, based in Los Angeles and known for its AI-enhanced smart wallet service, has raised $10.2 million in a Series A funding round. Silicon Valley Journals reports that the round was spearheaded by QED Investors, with contributions from Patron, The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund.

Kudos offers a comprehensive smart wallet service that guides consumers in selecting the most beneficial credit card for maximizing rewards and cashback. The service has already attracted over 200,000 members. With the new funds, Kudos plans to expand its smart wallet functionality.

CEO Tikue Anazodo said, “The new capital will be deployed to introduce additional features that enhance our smart wallet services.” Kudos recently launched several innovative features, including MariaGPT, an AI tool for discovering optimal credit cards; Dream Wallet, which suggests cards based on user spending patterns; and Kudos Boost, offering personalized rewards with partners like Walmart and Sephora.

Founded in 2021 by veterans from Google, PayPal, and Affirm, Kudos is accessible via a browser extension and an app on the Apple App Store. This funding will help the company broaden its features and elevate the user experience, tapping into the growing trend of using technology for better personal finance management.

Furthermore, Kudos is set to focus on expanding its user base and enhancing its market presence, as demand for smarter financial management solutions grows. This positions Kudos to cater effectively to this need by providing a sophisticated and user-friendly platform for optimizing credit card rewards.