Kredete secures $2.25M to aid African immigrants in building credit and sending money home

Kredete, a fintech startup simplifying credit and payment for immigrants, has raised $2.25 million in a seed round from leading investors. Kredete also allows immigrants to send money home while enjoying the opportunity to build their credit.

Founded in 2022 by Adeola Adedewe, a first-generation immigrant from Nigeria who realized the challenges faced by African immigrants in building credit in a credit-based society. Kredete intends to tackle these and many more roadblocks.

This seed round was led by BFF, with Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, SDF, and DNA Fund.

According to the founder, the platform has witnessed significant growth since its inception, with over 300,000 users and a 4x revenue increase in the past 12 months.