African-focused fintech Kredete has secured $22 million in Series A funding to accelerate its mission of transforming credit access and cross-border payments for the African diaspora. 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 raise brings Kredete’s total funding to $24.75 million, marking a significant step in its ambition to build universal credit infrastructure across Africa and beyond.
Expansion into New Markets
Founded in 2023 by entrepreneur Adeola Adedewe, Kredete has grown quickly by addressing the financial inclusion gap faced by African immigrants worldwide. The company announced that the new funding will fuel its entry into Canada, the United Kingdom, and key European markets. These expansions aim to extend the company’s stablecoin-backed credit solutions to a larger base of underserved populations.
Credit-Building Through Stablecoin Innovation
At the heart of Kredete’s platform is a proprietary credit-building engine that allows immigrants to send remittances while strengthening their credit histories abroad. The company has processed more than $500 million in remittances to over 30 African countries, serving a community of more than 700,000 monthly users. Kredete’s approach combines financial responsibility with technological innovation, offering a system where supporting family members back home directly contributes to an individual’s creditworthiness.
Product Pipeline and Infrastructure Growth
Kredete is preparing to roll out Africa’s first stablecoin-backed credit card across 41 countries, enabling seamless spending, credit building, and reduced foreign exchange costs. Complementing this will be new features such as rent reporting, credit-linked savings plans, and goal-based loans designed for thin-file or no-file users. The firm is also introducing USD and EUR interest-bearing accounts, providing Africans worldwide with tools to preserve value, hedge currency risks, and earn sustainable yields.
API-Based Cross-Border Solutions
Beyond consumer services, Kredete is building what it describes as the largest aggregation layer of African banks and wallets. This infrastructure provides a single API for businesses to make secure, real-time, and cost-efficient payouts into Africa. By integrating stablecoin technology with modern payment rails, Kredete aims to redefine cross-border finance for both individuals and enterprises.
Investor Perspectives
AfricInvest highlighted Kredete’s ability to address bottlenecks in moving money into and out of Africa while serving both consumers and payment operators. “It is one of those extremely rare start-ups that has managed to solve several problems at once,” said Khaled Ben Jilani, Senior Partner at AfricInvest. Partech also expressed confidence in the company’s direction, with Principal Lewam Kefela noting the transformative potential of its remittance and credit-building infrastructure.
Mission and Alignment with Global Goals
Adedewe emphasized that the company’s vision is rooted in recognizing financial responsibility across borders. “If you support your family financially, that should count toward your creditworthiness,” he said, underscoring the broader impact of the firm’s solutions. Kredete’s work aligns with United Nations Sustainable Development Goals 8 and 10, focusing on promoting decent work, economic growth, and reducing inequalities.
With this funding milestone, Kredete is positioned to advance its mission of making credit universally accessible for Africans everywhere. By combining stablecoin-powered payments, credit-building tools, and robust API infrastructure, the company seeks to unlock financial opportunity across 40-plus countries. As Kredete scales globally, its focus remains on empowering the African diaspora to send, spend, save, and build credit seamlessly.