Kredete raises $22m to bring credit building and stablecoin-based remittances to African immigrants

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AfricInvest via their Cathay AfricInvest Innovation Fund and Financial Inclusion Vehicle, alongside Partech and Polymorphic Capital joined the round.

Founded in 2023 by serial entrepreneur Adeola Adedewe, Kredete combines international money transfers with a proprietary credit-building engine, enabling users to send money to over 30 African countries while improving their credit history in the US and beyond.

The firm has built API-based infrastructure to help businesses make secure cross-border payments into Africa, leveraging modern payment rails and stablecoin technology.

With the financing in place, it is set to expand into Canada, the UK and key European markets, as well as introduce new features like rent reporting, credit-linked savings plans, and goal-based loans.

At the core of this expansion is Africa’s first stablecoin-backed credit card, set to roll out across 41+ countries, enabling users to spend, build credit, and avoid foreign exchange fees. This will be complimented by interest-bearing USD and EUR accounts to help users preserve value and hedge against local currency volatility.

“We’re building a system that rewards financial responsibility across borders. This raise is about scaling that infrastructure globally — and making sure that the millions of Africans abroad are finally seen, scored, and served,” says Adedewe.