Kredete, a Fintech company focused on assisting African immigrants, has secured $22 million in Series A funding to support its expansion into Canada, the UK, and Europe.

Target Overview

Kredete is a financial technology company based in New York, established in 2023 by the serial entrepreneur Adeola Adedewe. The company is dedicated to supporting African immigrants in building credit and accessing financial services through innovative solutions, including stablecoin payments and responsible remittance infrastructure. Kredete combines international money transfers with a custom credit-building engine, allowing users to send money to over 30 African countries while simultaneously improving their credit histories in the U.S. and beyond.

Since its inception, Kredete has focused on enhancing credit accessibility for individuals who have been traditionally excluded from conventional credit systems. By developing features such as rent reporting, credit-linked savings plans, and goal-based loans, Kredete aims to address the needs of thin-file or no-file individuals. A notable innovation from the company is Africa’s first stablecoin-backed credit card, designed to facilitate seamless spending and credit building across 41 African nations.

Industry Overview

The financial technology landscape in Africa has been experiencing significant growth, fueled by an increasing demand for accessible financial services among its population. Over the past few years, various FinTech companies have e