Kredete, a Nigeria-founded fintech helping African immigrants access credit and affordable financial services, has raised a $22 million in a Series A round. The funding was led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE). Partech and Polymorphic Capital also took part in this round. This brings the company’s total funding to $24.75 million.
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Kredete enables users to send money to more than 30 African countries while simultaneously building credit history in markets such as the United States. Kredete addresses a critical gap faced by African immigrants which is access to reliable credit in new markets. It does this by embedding a credit-building engine into international money transfers.
Kredete plans to expand its operations into Canada, the United Kingdom and key European markets with this fresh funding. These have the largest African diaspora populations globally and remain critical remittance corridors into the continent. Remittance inflows to Sub-Saharan Africa reached $54 billion in 2023 according to the World Bank.
“We’re building a system that rewards financial responsibility across borders. This raise is about scaling that infrastructure globally and making sure that the millions of Africans abroad are finally seen, scored, and served,” says Adeola Adedewe, Founder and CEO of Kredete.
Kredete is also rolling out new products aimed at deepening credit access. These include rent reporting services, credit-linked savings plans and goal-based loans targeted at thin-file or no-file immigrants who are excluded from traditional credit systems. This included Africa’s first stablecoin-backed credit card that is set to be deployed across 41+ countries.
Additionally, the company is introducing interest-bearing USD and EUR accounts, allowing Africans globally to earn yield and preserve value while hedging against local currency volatility—a key concern in markets such as Nigeria, Ghana, and Kenya where inflation and currency depreciation remain persistent challenges.
“Kredete has been focusing on serving the African diaspora while addressing the key bottlenecks faced by payment operators when they move money in and out of Africa,” comments Khaled Ben Jilani, Senior Partner at AfricInvest. “It is one of those extremely rare start-ups that has managed to solve several problems at once—both for its African consumer clients, as well as for the large payments companies operating in Africa.”
On the infrastructure side, Kredete has developed an API-based aggregation layer connecting banks and digital wallets across Africa. This will allow businesses to make secure, real-time, and cost-effective payouts into multiple African countries using stablecoin rails.
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