Kudos has secured USD 10 million in funding for its AI-powered smart wallet designed to optimize credit card usage for rewards and cashback benefits. QED Investors led the USD 10.2 million Series A funding round, joined by previous investors Patron, The Points Guy founder Brian Kelly, Samsung Next, SV Angel, Precursor Ventures, The Mini Fund, Newtype Ventures, and the Four Cities Fund.

In essence, the company leverages artificial intelligence to analyse consumer spending patterns and offer personalised financial advice. Available through both an app and browser extension, Kudos competes in a growing market alongside startups such as Kard, Power, Bilt Rewards, and MaxRewards. According to TechCrunch, since its inception, Kudos has experienced substantial growth, expanding from 1,000 beta testers to 200,000 registered users and achieving over USD 200 million in annualised checkout gross merchandise volume.

New features of Kudos include MariaGPT, an AI-powered card discovery tool, Dream Wallet for personalised card recommendations, and Kudos Boost for additional cashback rewards across partner brands and retailers. With a focus on improving its AI-powered services, Kudos plans to develop MariaGPT into a broader personal finance assistant and a flight booking portal integrated within the platform. How does MariaGPT work? Maria GPT is a personalised assistant that was designed to answer various credit card-related questions.

At the time of writing, the function is available in beta through the Kudos app. The AI tool was created to help users understand the benefits of the cards in their wallets and provide personalised recommendations for new cards depending on users' spending patterns, objectives, and goals. According to Kudos, the system is able to answer any question as long as it relates to credit cards.

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