African fintech firm Kredete completes $22 million Series A funding round
2025-09-17 15:23:02
Kredete, an African fintech company, today announced the completion of a $22 million Series A financing round led by Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE) from AfricInvest, with participation from Partech and Polymorphic Capital. Founded in 2023, the company is dedicated to helping African immigrants build their credit histories through stablecoin payments and cross-border remittance services. The company will use this round of financing to expand its business to Canada, the United Kingdom and Europe, and launch Africa's first stablecoin-backed credit card. It is reported that Kredete currently has 700,000 MAU users, and has facilitated 500 million US dollars in remittance transactions, helping users improve their credit scores by an average of 58 points. After this round of financing, the company has accumulated a cumulative amount of 24.75 million US dollars.
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