Kredete Secures $22M to Reshape African Diaspora Finance with Stablecoin Credit Card
September 16, 2025, 9:38 pm
Kredete, a pioneering fintech, has secured $22 million in Series A funding. This capital fuels the launch of Africa's first stablecoin-backed credit card. The company aims to empower African immigrants globally. It provides essential credit-building infrastructure. Kredete integrates international money transfers with a proprietary credit-scoring engine. This addresses critical financial exclusion challenges. The platform enables users to send money across 30+ African nations. Concurrently, it helps them build robust credit histories abroad. This significant investment brings Kredete's total funding to $24.75 million. It supports strategic expansion into Canada, the UK, and key European markets. AfricInvest led the round through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE). Partech and Polymorphic Capital also participated.
Kredete's innovation bridges a significant gap. Many immigrants face barriers to financial services. Traditional systems often overlook their creditworthiness. Kredete's model links everyday financial activities to a credit score. This includes remittances and rent payments. Such connections open doors to loans, mortgages, and other vital financial products. The company was founded in 2023 by Adeola Adedewe. Its mission is clear: financial empowerment for the African diaspora.
The stablecoin-backed credit card is a game-changer. It will roll out in over 41 African countries. Users can spend globally. They can build credit simultaneously. This card also helps users avoid costly foreign exchange fees. This feature offers both convenience and significant savings. Kredete is also introducing new tools. These assist immigrants with limited or no credit history. These tools help them save responsibly. They enable smart borrowing. They protect earnings against economic volatility.
Key offerings include rent reporting. This allows rent payments to contribute to credit scores. Credit-linked savings plans foster financial discipline. Access to foreign currency accounts hedges against local currency fluctuations. These products are specifically designed for "thin-file" or "no-file" immigrants. This group has historically been excluded from mainstream financial systems. Kredete empowers them to gain financial footing.
Beyond consumer products, Kredete builds robust infrastructure. It offers an API-based platform for businesses. This facilitates secure, real-time cross-border payments into Africa. Modern payment rails and stablecoin technology power this system. It makes payouts cheaper and faster. Businesses gain a single API to move money efficiently. Kredete is developing Africa's largest aggregation layer. This connects numerous banks and wallets. This enhances payment fluidity across the continent. This infrastructure benefits both consumers and payment operators. It tackles complex payment bottlenecks.
Kredete’s impact is already substantial. Since its launch, it has reached over 700,000 monthly users. It has facilitated $500 million in remittances. Users’ U.S. credit scores have improved significantly. The average increase is 58 points. These metrics demonstrate the platform's effectiveness. They underscore its vital role in financial inclusion. Kredete's vision is simple yet powerful. Financial support for family should enhance creditworthiness. This philosophy underpins its entire operation. It rewards financial responsibility across borders.
The company's expansion plans are ambitious. With new funding, Kredete will accelerate growth. It targets key global markets. Canada, the UK, and several European nations are priorities. This global scaling aims to serve millions more Africans abroad. It ensures they are recognized, scored, and financially served. Kredete aligns with United Nations Sustainable Development Goals. These include Decent Work and Economic Growth (SDG 8). It also supports Reduced Inequalities (SDG 10). The platform promotes universal access to financial services. It fosters sustainable economic development.
Kredete's innovative use of stablecoins sets it apart. It moves beyond traditional remittance models. It leverages blockchain technology for efficiency. This ensures lower fees and faster transactions. It provides a stable store of value. This protects users from currency volatility. The blend of remittances, credit building, and stablecoin solutions redefines cross-border finance. It creates a powerful, integrated financial platform. Africans everywhere can send, spend, save, and build credit effectively. This empowers them with greater economic agency. Kredete truly transforms financial access for a underserved global community.
Kredete's innovation bridges a significant gap. Many immigrants face barriers to financial services. Traditional systems often overlook their creditworthiness. Kredete's model links everyday financial activities to a credit score. This includes remittances and rent payments. Such connections open doors to loans, mortgages, and other vital financial products. The company was founded in 2023 by Adeola Adedewe. Its mission is clear: financial empowerment for the African diaspora.
The stablecoin-backed credit card is a game-changer. It will roll out in over 41 African countries. Users can spend globally. They can build credit simultaneously. This card also helps users avoid costly foreign exchange fees. This feature offers both convenience and significant savings. Kredete is also introducing new tools. These assist immigrants with limited or no credit history. These tools help them save responsibly. They enable smart borrowing. They protect earnings against economic volatility.
Key offerings include rent reporting. This allows rent payments to contribute to credit scores. Credit-linked savings plans foster financial discipline. Access to foreign currency accounts hedges against local currency fluctuations. These products are specifically designed for "thin-file" or "no-file" immigrants. This group has historically been excluded from mainstream financial systems. Kredete empowers them to gain financial footing.
Beyond consumer products, Kredete builds robust infrastructure. It offers an API-based platform for businesses. This facilitates secure, real-time cross-border payments into Africa. Modern payment rails and stablecoin technology power this system. It makes payouts cheaper and faster. Businesses gain a single API to move money efficiently. Kredete is developing Africa's largest aggregation layer. This connects numerous banks and wallets. This enhances payment fluidity across the continent. This infrastructure benefits both consumers and payment operators. It tackles complex payment bottlenecks.
Kredete’s impact is already substantial. Since its launch, it has reached over 700,000 monthly users. It has facilitated $500 million in remittances. Users’ U.S. credit scores have improved significantly. The average increase is 58 points. These metrics demonstrate the platform's effectiveness. They underscore its vital role in financial inclusion. Kredete's vision is simple yet powerful. Financial support for family should enhance creditworthiness. This philosophy underpins its entire operation. It rewards financial responsibility across borders.
The company's expansion plans are ambitious. With new funding, Kredete will accelerate growth. It targets key global markets. Canada, the UK, and several European nations are priorities. This global scaling aims to serve millions more Africans abroad. It ensures they are recognized, scored, and financially served. Kredete aligns with United Nations Sustainable Development Goals. These include Decent Work and Economic Growth (SDG 8). It also supports Reduced Inequalities (SDG 10). The platform promotes universal access to financial services. It fosters sustainable economic development.
Kredete's innovative use of stablecoins sets it apart. It moves beyond traditional remittance models. It leverages blockchain technology for efficiency. This ensures lower fees and faster transactions. It provides a stable store of value. This protects users from currency volatility. The blend of remittances, credit building, and stablecoin solutions redefines cross-border finance. It creates a powerful, integrated financial platform. Africans everywhere can send, spend, save, and build credit effectively. This empowers them with greater economic agency. Kredete truly transforms financial access for a underserved global community.