Kredete, a FinTech company dedicated to helping African immigrants build credit and access financial services, has secured $22m in a Series A funding round.
The round was led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), alongside Partech, with additional backing from Polymorphic Capital. This takes Kredete’s total funding to $24.75m.
Founded in 2023 by serial entrepreneur Adeola Adedewe, Kredete has developed a platform that combines cross-border money transfers with a proprietary credit-building system. The firm allows users to remit money to over 30 African countries while also boosting their credit history in the US and other markets. Alongside its consumer services, Kredete provides API-based infrastructure for businesses to make secure and low-cost payments into Africa, leveraging stablecoin technology and modern payment rails.
The latest capital will enable Kredete to expand its operations into Canada, the UK and other European markets.
The firm is also preparing to launch Africa’s first stablecoin-backed credit card, designed to help users spend across 41 African countries, build credit, and avoid high foreign exchange charges. In addition, new features such as rent reporting, credit-linked savings, and goal-based lending are being introduced to support immigrants with limited credit histories.
Kredete is also rolling out USD and EUR interest-bearing accounts to allow African users to preserve value, earn yield, and hedge against currency volatility. On the infrastructure side, the company is working on what it describes as Africa’s largest aggregation layer of banks and wallets, giving businesses a single API for real-time, affordable payouts across the continent.
Kredete CEO Adeola Adedewe said, “Our vision is simple: if you support your family financially, that should count toward your creditworthiness. 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.”
AfricInvest senior partner Khaled Ben Jilani said, “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.
“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.”
Since launch, Kredete has grown rapidly, reaching more than 700,000 monthly users. The company has processed $500m in remittances and improved its users’ US credit scores by an average of 58 points.
Copyright © 2025 FinTech Global
