Nigeria’s Kredete Raises USD 22 M Series A To Expand Credit Infrastructure For African Immigrants

Kredete, a fintech platform helping African immigrants build credit and access financial services, has raised USD 22 M in Series A funding led by AfricInvest—through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE)—with participation from Partech and Polymorphic Capital.

Founded in 2023 by Adeola Adedewe (CEO), Kredete combines stablecoin-powered remittance rails with a proprietary credit-building engine, enabling users to send money to over 30 African countries while improving their credit histories in markets like the U.S. The startup has already facilitated USD 500 M in remittances and helped users raise their U.S. credit scores by an average of 58 points.

This new funding, which follows last year’s USD 2.25 seed round, will power Kredete’s expansion into Canada, the UK, and key European markets, while rolling out Africa’s first stablecoin-backed credit card across 41+ countries. Kredete is also launching rent reporting, credit-linked savings, goal-based loans, and interest-bearing USD/EUR accounts, alongside an API aggregation layer for banks and wallets to simplify cross-border payouts into Africa.

“Our goal is simple—make credit universally accessible for Africans,” said Adedewe.