A former executive at African digital bank Kuda has filed a case with the UK Employment Tribunal accusing the firm and CEO Babatunde Ogundeyi of sex discrimination, victimisation, and unfair dismissal.
In documents reported by TechCrunch, Kuda's former group chief people officer Rosemary Hewat says the fintech forced her out in April 2024 after a three year stint in which she faced a host of issues.
The filings describe a culture at odds with Kuda’s Diversity, Equity, and Inclusion policy, creating a workplace that was “intimidating, hostile, degrading, humiliating, and offensive” to Hewat and other women at the firm.
Hewat alleges that Ogundeyi publicly brought two two female employees to tears, calling them “low class” and accusing them of lacking “quality or luxury”.
Hewat's complaint centres on a dispute over employee stock options (ESOP). When she joined Kuda, she claims she was offered hundreds of thousand dollars worth of ESOP shares at the company's Series A valuation.
When she was issued the ESOP grant in April 2022, it was based on Kuda's Series B valuation, increasing the stock price and reducing her equity value, per the filing.
In contrast, Hewat says then-CFO Steven Bastian negotiated to revert his shares to the Series A price. When Hewat raised this, Ogundeyi allegedly dismissed her request, saying Bastian’s role was “more important” than hers.
In December 2023, Hewat formally documented her concerns about share allocations and pay disparity, warning Kuda that failing to address the issue could constitute sex discrimination under UK employment law.
Rejecting mediation, Ogundeyi investigated the complaint himself, finding in his own favour, says the filing.
Then, in February 2024 Kuda fired Hewat while she was traveling to Lagos for an Executive Committee retreat. Hewat says that Ogundeyi later told her the decision was financial, saying "it's mainly an FX thing".
Soon after, claims Hewat, CTO Mutairu Mustapha admitted that her firing was a mistake and invited her to return, but discussions fell apart after Kuda refused her earlier settlement requests and delayed responding to her “Data Subject Access” request.
The firm then sent her a formal redundancy consultation letter, weeks after firing her, the filing said. Over the next few months, it cut off her salary, canceling her health insurance, and withholding her full holiday pay.
Hewat eventually resigned in April 2024, citing constructive dismissal.
She is seeking compensation for unfair dismissal, sex discrimination, emotional distress, and Kuda’s alleged failure to follow proper workplace grievance procedures.
Kuda has confirmed that case but tells TechCrunch it cannot comment on an ongoing legal matter.