By linking low-cost remittances with credit-building tools, Kredete is scaling across 40+ African markets while expanding to Europe and North America.
Kredete, a fast-growing fintech platform dedicated to empowering African immigrants, has raised $22 million in Series A funding to accelerate its global expansion and broaden its suite of financial products. The round was led by AfricInvest Group through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with participation from existing investor Partech and new backer Polymorphic Capital. This latest raise brings the company’s total funding to $24.75 million.
Founded by serial entrepreneur Adeola Adedewe, Kredete was launched to solve a persistent challenge faced by African immigrants: the high cost of sending money home and the difficulty of building credit in new markets. By combining remittances with credit reporting, the company enables diaspora communities to both support families across Africa and establish financial credibility abroad.
Turning Remittances into Credit
Traditional remittance services often come with steep fees and provide no benefit to a user’s credit profile. Kredete has reimagined this process by processing transactions via stablecoins, cutting transfer costs to less than a dollar per transaction. More importantly, the platform partners with credit bureaus in North America and Europe to report these payments, transforming them into verifiable credit history.
Adedewe explains the vision simply: “If you support your family financially, that should count toward your creditworthiness. We’re building a system that rewards financial responsibility across borders.”
This approach addresses two markets at once — the multi-billion-dollar global remittance industry and the unmet need for credit access among thin-file or no-file immigrants.
Rapid Growth and Impact
Since its seed round of $2.25 million in 2024, Kredete has grown its user base from 300,000 to more than 700,000 monthly users. To date, the company has facilitated over $500 million in remittances and reports that active users have seen their credit scores rise by an average of 23 to 58 points within months of joining the platform.
Kredete’s mission also aligns with broader development goals. By improving access to credit and lowering remittance costs, it supports the UN Sustainable Development Goals (SDGs) on Decent Work and Economic Growth (SDG 8) and Reduced Inequalities (SDG 10).
What’s Next for Kredete
The new capital will fund Kredete’s expansion into Canada, the United Kingdom, and key European markets, while scaling operations across more than 40 African countries. The company is also rolling out Africa’s first stablecoin-backed credit card, offering users the ability to spend globally, build credit, and avoid costly foreign exchange fees.
Future products in development include rent reporting, credit-linked savings plans, and goal-based loans designed for immigrants traditionally excluded from mainstream credit systems. Kredete also plans to launch interest-bearing USD and EUR accounts, enabling Africans worldwide to preserve value and hedge against local currency volatility.
On the infrastructure side, the company is building the continent’s largest aggregation layer of banks and wallets, giving businesses a single API for secure, real-time cross-border payments into Africa.
Investor Confidence
For investors, Kredete offers the combination of high-growth potential and measurable social impact. “Adeola and his team are driving transformative innovation in remittances and cross-border payment infrastructure,” said Lewam Kefela, Principal at Partech. “We’re excited about how their work is enabling better financial services for the African diaspora and unlocking broader opportunities across the ecosystem.”
With strong backers and a bold vision, Kredete is positioning itself not just as a remittance platform but as a comprehensive financial services provider for the African diaspora.
