Tudo launches social approach to finance with friends

Nigerian fintech outfit, Xerde Limited, has rolled out an innovative application, Tudo, which provides solutions to social funding while driving digital transformation and providing quality and accessible solutions to Africa.

At a press conference in Lagos, founder of the startup, Khadijat Abdulkadir, said the public rollout was coming exactly a year after it first started operations.

According to Khadijat, Tudo is a social fintech that enables financial collaboration by providing users with an alternative way to achieve social financial goals by creating and then sharing them with contacts to achieve them faster with the contribution of each individuals’ extended network.

She stated that, during the coronavirus lockdown of 2020, Tudo offered its technology to a selection of organizations engaged in the fight against the virus and the mitigation of its social consequences. The social fintech solution, she said, helped organisations to define goals and users to contribute to their achievements while providing a broader exposure of their missions to accelerate givers’ engagement from all over the world.

“To mark their first anniversary, Tudo will be opening up its app to all users globally, providing an opportunity for all to create, share and collaborate to achieve both personal and group goals. With a beautiful user-friendly interface and robust offerings such as in-app messaging, goal likes, goal sharing, contribution tracking, group management, videos and images to tell your story, and even a referral program to help users earn money; Tudo is quite possibly the Facebook for finance,” she said.

Khadijat, who has worked with world-leading organisations in the industry such as Microsoft and Accenture USA and Apside France, further added that the app provides an option for anonymity while also ensuring users protection via a high-level encryption. Explaining how it works, she said users of the app can set up a group, have in-app chats and group discussions or set individual targets.

“This is really just to solve the social day-to-day things that we do quite more often but do not have a wholesome platform to handle. Tudo works with encryption, so, we take good care to ensure security on the application. We are also integrated into a bank, so one of the most significant aspects is that this app is not just a standalone where you just put your money in the app. You actually put your money in the bank via the app,” she noted.

Cairman of the board of Xerde Limited, Austine Abolusoro, described Tudo as an innovative product meant to solve day-to-day problems.

“In Africa, we are very communal. We want to support each other. Somebody is getting married, we want to contribute. Even birthdays, we want to contribute, burials, we are contributing, every time we are contributing. But, sometimes, these contributions lead to some other types of crisis and problems where accounting for money contributed becomes an issue. Tudo is designed to solve that problem. There is transparency, everybody contributing will see on the app, will know who contributed and who has not. This is something that is really fantastic and we have hope at the board that this is really going to really move very fast,” he said.