Kredete, a Nigerian financial technology platform that helps African immigrants in the diaspora build credit through instant international money transfers, has raised $22M in series A funding.
The funding was led by AfricInvest Group via their Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle (FIVE), Partech, and Polymorphic Capital.
This milestone allows Kredete to expand its credit-building infrastructure and stablecoin-powered transfers across 40+ African countries.
Speaking on the funds raised, the company’s founder and CEO Adeola Adedewe via a LinkedIn post expressed excitement about the new milestone. He noted that with the funds, the company is poised to scale its stablecoin infrastructure to facilitate global money movement for Africans worldwide.
Part of his post reads,
“Since inception, our mission has been simple: help millions of African immigrants stay connected to home whether by sending money to family, paying with cards, or saving securely. This raise fuels our next chapter as we expand our stablecoin infrastructure to power global money movement for Africans everywhere unlocking access, credit, and opportunity across 40+ countries. To our team, partners, and investors thank you. We’re just getting started.”
This latest round brings Kredete’s total funding to $24.75 million, which will finance the company’s expansion into Canada, the United Kingdom, and key European markets.
Founded in 2023 by Adeola Adedewe, Kredete was built by African immigrants for African immigrants who understand the everyday challenges of building credit, sending money back home, and gaining real financial access across borders. The firm has been on a mission to help African immigrants build credit and access better financial services through stablecoin payments and responsible remittance infrastructure.
Since its launch, Kredete has reached over 700,000 monthly users, facilitated $500 million in remittances, and helped raise users’ U.S. credit scores by an average of 58 points. The company combines international money transfers with a proprietary credit-building engine, enabling users to send money to over 30 African countries while improving their credit history in the U.S. and beyond.
It has also built API-based infrastructure to help businesses make secure and affordable cross-border payments into Africa, leveraging modern payment rails and stablecoin technology.
Notably, Kredete is doubling down on its mission to make credit universally accessible for Africans by expanding its credit-building infrastructure. The company is introducing new features like rent reporting, credit-linked savings plans, and responsible goal-based loans. These features are designed for thin-file or no-file immigrants who have historically been excluded from traditional credit systems.
At the core of this expansion is Africa’s first stablecoin-backed credit card, set to roll out across 41+ African countries, enabling users to spend seamlessly, build credit, and avoid costly foreign exchange fees. To complement this, Kredete is launching interest-bearing USD and EUR accounts, empowering Africans globally to preserve value, earn yield, and hedge against local currency volatility.
On the infrastructure side, Kredete is building the continent’s largest aggregation layer of banks and wallets giving businesses a single API to enable secure, real-time, and affordable payouts into Africa. With this foundation, Kredete is redefining cross-border finance helping Africans everywhere send, spend, save, and build credit on one powerful platform.
