Kredete Secures $22M Series A to Fuel Global Credit Expansion for African Immigrants
Kredete, a fintech innovator dedicated to empowering African immigrants with credit-building tools and enhanced financial access, has successfully closed a $22 million Series A funding round. This significant investment will propel Kredete’s expansion into new markets, including Canada, the United Kingdom, and various key locations across Europe, furthering its mission to bridge financial gaps for this underserved demographic.
Funding to Drive Global Expansion and Credit Innovation
The Series A round was spearheaded by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with strong participation from Partech and Polymorphic Capital. This latest infusion of capital brings Kredete’s total funding to an impressive $24.75 million, solidifying its position as a key player in the burgeoning African fintech landscape. Founded in 2023 by seasoned entrepreneur Adeola Adedewe, Kredete is revolutionizing the way African immigrants build credit and access vital financial services. Through its innovative platform, Kredete seamlessly integrates international money transfers with a unique credit-building engine, enabling users to send money to over 30 African countries while simultaneously enhancing their credit history in the U.S. and beyond, leveraging stablecoin payments and a robust remittance infrastructure.
With this new funding, Kredete is poised to significantly impact the financial lives of African immigrants globally, fostering financial inclusion and economic empowerment through its innovative and accessible solutions.
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