Nigerian fintech startup Kredete has announced a $22 million Series A funding round, aimed at scaling its credit-building platform and launching Africa’s inaugural stablecoin-backed infrastructure tailored for African immigrants.
The investment underscores the growing demand for accessible financial tools that bridge the gap between diaspora remittances and credit inclusion.
Founded in 2023 by serial entrepreneur Adeola Adedewe, Kredete addresses a critical pain point for millions of African immigrants in markets like the United States, who often face barriers to building credit histories due to traditional banking exclusions.
The platform integrates low-cost remittances with a proprietary credit engine, allowing users to send money to over 30 African countries while earning credit toward their profiles.
To date, Kredete has empowered more than 700,000 monthly users, processed $500 million in transfers, and boosted average U.S. credit scores by 58 points for its clients.
The Series A round was led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with additional backing from Partech and Polymorphic Capital.
This brings the company’s total funding to $24.75 million, following a $2.25 million seed round in 2024 from investors including Blockchain Founders Fund.
Proceeds from the raise will fuel Kredete’s geographic expansion into Canada, the United Kingdom, and select European markets, while enhancing its core offerings.
Central to this growth is the rollout of Africa’s first stablecoin-backed credit card, enabling seamless spending across 41+ African nations—both digitally and at physical points of sale in over 100 countries—without the sting of foreign exchange fees.
Users can leverage stablecoins to make purchases worldwide, build credit through everyday transactions, and access interest-bearing USD and EUR accounts to safeguard against currency volatility and earn yields.
Further innovations include rent reporting to credit bureaus, credit-linked savings plans, and responsible goal-based loans designed for immigrants with thin or no credit files.
For businesses, Kredete is introducing an API-based aggregation layer—the continent’s largest—that connects to banks and wallets for secure, real-time, and affordable payouts into Africa, powered by modern payment rails and stablecoin technology.
“This funding is a game-changer for the African diaspora,” said Adeola Adedewe, Founder and CEO of Kredete. “Our vision is straightforward: supporting your family back home should contribute to your financial future abroad. We’re scaling this infrastructure to ensure Africans in the diaspora are recognized, rewarded, and empowered.”
Investors echoed the enthusiasm. Khaled Ben Jilani, Senior Partner at AfricInvest, highlighted Kredete’s multifaceted impact: “It’s one of those rare startups solving multiple challenges at once—for consumers sending money home and for payment operators navigating Africa’s complexities.”
Lewam Kefela, Principal at Partech, added, “Kredete’s innovations in remittances and credit-building are unlocking opportunities for the African ecosystem.”
Kredete’s stablecoin focus arrives at a pivotal moment for African fintech, where remittances exceed $100 billion annually but are plagued by high fees and slow processing. By harnessing blockchain for stable, efficient transfers, the platform not only cuts costs but also fosters financial sovereignty for immigrants.
Early adopters have praised the system’s reliability, with one user noting how it transformed their credit profile within months of consistent remittances.
As Kredete eyes broader adoption, it positions itself as a leader in redefining cross-border finance. With stablecoins gaining regulatory traction globally, the startup’s infrastructure could catalyze a new era of inclusive banking for Africa’s 40 million-plus diaspora population.
Challenges remain, including navigating diverse regulatory landscapes and scaling stablecoin adoption amid crypto volatility concerns.
Yet, with this infusion of capital, Kredete is poised to set a benchmark for immigrant-focused fintech innovation.