Kredete Raises $22M Series A to Expand Credit Access for African Immigrants

Kredete Raises $22M Series A to Expand Credit Access for African Immigrants

Kredete, a fintech company focused on African immigrants, has raised $22 million in Series A funding to scale its credit-building and cross-border financial services. The round was led by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with participation from Partech and Polymorphic Capital.

This latest round brings Kredete’s total funding to $24.75 million since its founding in 2023 by serial entrepreneur Adeola Adedewe.

How Kredete Helps Africans Build Credit Abroad

Kredete has built a platform that combines money transfers to over 30 African countries with a credit-building system that helps users strengthen their financial profile in the US and other markets.

Alongside consumer services, the company also provides API-based payment infrastructure for businesses, allowing secure, low-cost payments into Africa. This system uses stablecoin technology and modern payment rails to cut costs and improve transaction speed.

Expansion Plans and New Products

With the new capital, Kredete plans to expand into Canada, the UK, and other European markets. The company is also preparing to launch Africa’s first stablecoin-backed credit card, which will allow users to:

• Spend across 41 African countries
  
• Build their credit history
  
• Avoid high foreign exchange fees
  

Other upcoming features include:

• Rent reporting
  
• Credit-linked savings
  
• Goal-based lending
  

Kredete is also introducing USD and EUR interest-bearing accounts to help African users preserve value, earn yield, and hedge against currency volatility.

Infrastructure for Businesses

Beyond serving individuals, Kredete is developing what it describes as Africa’s largest aggregation layer of banks and wallets. This platform will give businesses a single API for real-time, affordable payouts across the continent.

Rapid Growth Since Launch

Since its launch, Kredete has grown quickly, reaching over 700,000 monthly users. The platform has processed $500 million in remittances and boosted users’ US credit scores by an average of 58 points.

CEO Adeola Adedewe summed up the company’s mission:

“If you support your family financially, that should count toward your creditworthiness. We’re building a system that rewards financial responsibility across borders.”

AfricInvest’s senior partner Khaled Ben Jilani added:

“Kredete has solved key bottlenecks in payments while giving African immigrants tools to build credit and access finance. It’s a rare startup addressing multiple challenges at once.”

Kredete’s approach is timely. Millions of Africans abroad struggle with credit invisibility despite sending money home regularly. By linking remittances to credit scoring, stablecoins, and global payments, Kredete is positioning itself at the intersection of fintech innovation, financial inclusion, and diaspora support.

TechCity