Kredete, a fintech company dedicated to helping African immigrants build credit and access financial services, has raised $22 million in Series A funding. The round was led by AfricInvest via its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), alongside Partech, with participation from Polymorphic Capital.
This new raise brings Kredete’s total funding to $24.75 million and will power its expansion into Canada, the United Kingdom, and key European markets, while rolling out Africa’s first stablecoin-backed credit card.
A Bold Mission: Credit for Africans Everywhere
Founded in 2023 by serial entrepreneur Adeola Adedewe, Kredete is on a mission to address one of the most significant challenges facing Africans in the diaspora: credit exclusion.
By combining international money transfers with a proprietary credit-building engine, Kredete allows users to send money to over 30 African countries while simultaneously improving their credit scores in the U.S. and beyond.
Kredete also provides API-based infrastructure that enables businesses to make secure and affordable cross-border payments into Africa, leveraging modern payment rails and stablecoin technology.
New Features for Immigrants and Businesses
Kredete is introducing a suite of new products designed to give Africans more financial power, including:
- Africa’s first stablecoin-backed credit card – set to roll out across 41+ African countries, enabling seamless spending, credit building, and reduced forex fees.
- Rent reporting & credit-linked savings plans – helping thin-file and no-file immigrants build a trustworthy credit profile.
- Goal-based loans – promoting responsible lending and financial growth.
- Interest-bearing USD and EUR accounts – protecting Africans worldwide against currency volatility while allowing them to earn yield.
- The largest bank and wallet aggregation layer in Africa – giving businesses a single API for real-time, secure, and affordable payouts into Africa.
With this foundation, Kredete is redefining cross-border finance, empowering Africans to send, spend, save, and build credit on a single platform.
Voices from the Raise
“Our vision is simple: if you support your family financially, that should count toward your creditworthiness,” said Adeola Adedewe, Founder and CEO of Kredete. “This raise is about scaling that infrastructure globally — making sure that millions of Africans abroad are finally seen, scored, and served.”
“Kredete is one of those rare startups solving several problems at once — for African consumers and for large payments operators,” said Khaled Ben Jilani, Senior Partner at AfricInvest.
“Adeola and his team are driving transformative innovation in remittance and cross-border payments,” added Lewam Kefela, Principal at Partech. “We’re excited to support their journey.”
Kredete by the Numbers
Since its launch, Kredete has achieved:
- 700,000+ monthly users
- $500 million in remittances facilitated
- An average 58-point increase in users’ U.S. credit scores
The company’s mission aligns with the United Nations Sustainable Development Goals (SDGs) on Decent Work and Economic Growth (SDG 8) and Reduced Inequalities (SDG 10).
About Kredete
Kredete is a financial technology platform that empowers African immigrants to build credit and send money instantly to over 30 countries in Africa with low fees. It also provides API-based infrastructure for businesses to enable secure and affordable cross-border payments into Africa, leveraging stablecoin technology and modern payment rails.
Media Contact:
Adeola Adedewe
press@kredete.io
718-750-1371
