The round was led by AfricInvest, through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with further backing from Partech and Polymorphic Capital. The investment brings the company’s total funding to $24.75 million.

For founder and CEO Adeola Adedewe, the mission has always been clear: Africans abroad who support their families financially should have that responsibility recognized as part of their creditworthiness.

“We’re building a system that rewards financial responsibility across borders,” Adedewe said, emphasizing that the new funding will help scale this infrastructure into Canada, the United Kingdom, and several European markets.

Launched in 2023, Kredete combines two powerful services: international money transfers and credit-building.

By sending money back home to over 30 African countries, users can also strengthen their credit profile in places like the U.S. and Europe.

This dual-function model addresses one of the most significant challenges for immigrants—building trust in financial systems that have traditionally excluded them.

But Kredete isn’t stopping at remittances. It has developed API-driven infrastructure that allows businesses to make secure and affordable cross-border payments into Africa, leveraging stablecoin technology and modern payment rails.

In practice, this means lower fees, faster transfers, and more reliable settlement for both individuals and institutions.

With the new capital, Kredete is rolling out features designed to serve those with little or no credit history.

These include rent reporting tools, credit-linked savings plans, and goal-based loans that prioritize responsible borrowing.

One of the most ambitious developments is Africa’s first stablecoin-backed credit card, which will soon be available across more than 41 countries on the continent.

The card allows users to spend seamlessly, avoid costly foreign exchange fees, and build credit as they go.

Alongside this, the company is launching USD and EUR interest-bearing accounts, enabling Africans worldwide to preserve value, earn yield, and hedge against volatile local currencies.

On the infrastructure side, Kredete is building what it calls the largest aggregation layer of banks and wallets in Africa.

This will give businesses a single API to make secure, real-time payouts across the continent—a step that could significantly reshape cross-border commerce.

Investors backing the company see Kredete as tackling multiple challenges at once.

“Kredete has been focusing on serving the African diaspora while addressing the key bottlenecks faced by payment operators when they move money in and out of Africa,” said Khaled Ben Jilani, Senior Partner at AfricInvest.

“It’s one of those rare start-ups solving for both consumers and payment companies simultaneously.”

Lewam Kefela, Principal at Partech, echoed this sentiment:

“Adeola and his team are driving transformative innovation in remittance and cross-border payment infrastructure. Their work is enabling better financial services for the African diaspora and unlocking opportunities across the wider ecosystem.”