• Kredete raised $22 million in Series A funding led by AfricInvest, Partech, and Polymorphic Capital to expand globally.

• The company offers Africa's first stablecoin-backed credit card across 41+ countries, enabling credit-building through remittances.

• Founded by Adeola Adedewe in 2023, Kredete has over 700,000 monthly users and has processed $500 million in remittances.

Kredete, a financial technology company founded in 2023, has raised $22 million in a Series A funding round led by AfricInvest, Partech, and Polymorphic Capital. The company aims to enhance digital financial infrastructure by integrating stable value credit solutions for African immigrants. This investment will support Kredete's expansion into Canada, the United Kingdom, and key European markets.

Africa's digital financial landscape is experiencing growth. The continent's fintech market is projected to grow thirteen-fold to US$65 billion by 2030, driven by increased mobile penetration and digital payment adoption. Kredete's platform, which combines international money transfers with a proprietary credit-building engine, aligns with this trend by providing secure and affordable cross-border payments into Africa. The introduction of Africa's first stable coin-backed credit card further strengthens the digital financial infrastructure, enabling users to spend seamlessly and build credit across 41+ African countries.

"Our vision is simple: if you support your family financially, that should count toward your creditworthiness. This raise is about scaling that infrastructure globally, and making sure that millions of Africans abroad are finally seen, scored, and served."says the serial entrepreneur, Founder and CEO of Kredete, Adeola Adedewe.

Kredete's expansion into key European markets and its introduction of Africa's first stablecoin-backed credit card across 41 countries represent significant steps toward modernizing financial infrastructure in Africa. By integrating stablecoins and blockchain technology, Kredete is addressing long-standing bottlenecks in remittance corridors and providing Africans with secure, real-time, and affordable financial services. T

his approach not only enhances financial inclusion but also sets the stage for the growth of digital finance infrastructure across the continent. Looking ahead, experts say if Kredete's model proves successful, it could serve as a blueprint for other fintech companies aiming to bridge the gap between the African diaspora and their home countries, fostering economic growth and stability in the region.

Cynthia EBOT TAKANG