Kredete Secures $22M Series A to Expand Credit Access and Cross-Border Remittances
Nigerian fintech startup Kredete has raised $22 million in Series A funding to grow its credit-building and remittance services. The round was led by AfricInvest through its Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle, with Partech and Polymorphic Capital also participating. This brings the company’s total funding to about $24.75 million since its launch in 2023.
Kredete was founded to address two problems: the lack of credit history that limits African immigrants in host countries, and the high cost of sending money across borders. Its platform already serves more than 700,000 monthly users and has processed about $500 million in remittances. According to the company, users in the United States who rely on its tools have seen their credit scores improve by an average of 58 points.
With this funding, Kredete plans to expand into Canada, the United Kingdom, and several European markets. It is also preparing to launch a stablecoin-backed credit card across more than 40 African countries, introduce interest-bearing USD and EUR accounts, and add features such as rent reporting, credit-linked savings, and goal-based loans. These tools are designed to help immigrants with limited or no credit history gain access to affordable financial products.
Kredete is also developing an API layer that allows banks and digital wallets to make real-time and lower-cost payouts into African markets. By combining credit-building tools with modern remittance infrastructure, the company aims to reduce the barriers Africans face when accessing financial services at home and abroad.
The challenge ahead will be navigating regulatory requirements across multiple regions, ensuring data integrity for credit reporting, and competing with established players in the remittance space. Still, with investor support and a growing user base, Kredete is positioning itself as a fintech focused on credit access and practical financial tools for Africans worldwide.
