Nigerian fintech startup Kredete has raised $22 million in Series A funding, marking one of the largest capital injections into Africa’s stablecoin ecosystem this year. The raise comes on the back of rapid growth, with the company surpassing 700,000 active users and facilitating over $500 million in remittances since its 2023 launch.
At the heart of this next phase of expansion is Africa’s first stablecoin-backed credit card, which will debut across 41+ African countries. The card promises seamless spending, credit-building opportunities, and significantly reduced foreign exchange costs for users navigating Africa’s fragmented financial landscape.
Series A Led by Leading Global Investors
The $22M round was led by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE). Additional participation came from Partech and Polymorphic Capital, bringing Kredete’s total funding to $24.75 million.
The new capital will fuel the company’s African growth and its international expansion into Canada, the UK, and key European markets.
Bridging Borders with Stablecoin-Powered Finance
Founded in 2023 by Nigerian entrepreneur Adeola Adedewe, Kredete blends stablecoin-powered remittances with a proprietary credit-building engine, solving two major challenges for African immigrants:
- Affordable Cross-Border Transfers – Kredete enables users to send money to over 30 African countries, bypassing costly and slow legacy remittance systems.
- Credit Building Across Borders – Transfers and bill payments made through Kredete feed into credit history tracking in the U.S. and other Western markets, giving African immigrants a financial footprint abroad.
On the infrastructure side, Kredete has built API-driven payment rails for businesses, allowing secure and affordable cross-border payouts into Africa. The fintech aims to become Africa’s largest aggregation layer of banks and wallets, streamlining payments through a single API.
New Products for Financial Inclusion
With its fresh funding, Kredete is rolling out a suite of new products targeting thin-file and no-file immigrants, those excluded from traditional credit systems. These include:
- Rent reporting to strengthen credit histories.
- Credit-linked savings plans that reward responsible saving.
- Goal-based loans to help users finance key life milestones.
Beyond the stablecoin-backed credit card, Kredete is introducing interest-bearing USD and EUR accounts, designed to help Africans hedge against inflation, preserve wealth, and earn yield.
Investor and Founder Perspectives
Adeola Adedewe, Founder & CEO of Kredete, highlighted the company’s mission:
“Our vision is simple: if you support your family financially, that should count toward your creditworthiness. We’re building a system that rewards financial responsibility across borders. This raise is about scaling that infrastructure globally, and ensuring millions of Africans abroad are finally seen, scored, and served.”
Khaled Ben Jilani, Senior Partner at AfricInvest, said:
“It is one of those extremely rare start-ups that has managed to solve several problems at once, for African consumer clients as well as for large payment operators.”
Lewam Kefela, Principal at Partech, added:
“Adeola and his team are driving transformative innovation in remittance and cross-border payments. We are excited about how their work is unlocking better services for the African diaspora and the wider ecosystem.”
Kredete by the Numbers
Since its launch, Kredete has already posted strong results:
- 700,000+ monthly users
- $500 million+ in remittances processed
- Average 58-point credit score increase for users in the U.S.
These milestones underscore Kredete’s potential to reshape how Africans abroad and on the continent interact with global finance.
Aligning with Global Development Goals
Kredete’s model aligns with the United Nations Sustainable Development Goals (SDGs), particularly:
- SDG 8: Decent Work and Economic Growth
- SDG 10: Reduced Inequalities
By combining stablecoins, credit innovation, and inclusive infrastructure, Kredete is positioning itself as a bridge between global financial systems and African communities worldwide.
The Bigger Picture
As Africa’s remittance flows continue to grow, topping $100 billion annually, fintechs like Kredete are proving that stablecoins aren’t just speculative assets but practical tools for solving real financial challenges.
With its Series A secured and the upcoming launch of Africa’s first stablecoin-backed credit card, Kredete is set to become a defining force in Africa’s fintech and Web3 evolution.
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