Kredete Announces $22M Series A For Stablecoin Payments In Africa
Kredete Announces $22M Series A For Stablecoin Payments In Africa. Photo By Kurt Cotoaga On Unsplash.
Kredete has announced a successful $22M Series A raise to expand stablecoin payments in Africa, according to its blog page. This was led by AfricInvest, with Partech and Polymorphic Capital as participants.
The company had originally focused on working with African families who regularly used remittance from other parts of the world, typically exposed to high transaction fees. With a successful niche for cross-border operations, Kredete is now looking to add parallel features to its existing API solutions, including rent reporting and savings, alongside its stablecoin credit card.
Speaking on this news, Founder and CEO Adeola Adedewe exoressed:
“Our vision is simple: if you support your family financially, that should count toward your creditworthiness. 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.”
The team is now looking to actively expand the card services and subscriptions of Kredete+ to 41 African countries. Alongside this, it is closely aligned with UN's SDGs (Sustainable Development Goals), particularly on Goals 8 (Decent Work and Economic Growth) and 10 (Reduced Inequalities).
Note: This is intended for informational purposes only and does not in any way constitute or solicit financial, professional, or legal advice. Readers should conduct due diligence at all times.
This article has been partly researched and aggregated with the help of AI and does not pertain to be an exclusive story. For specific media and public information referenced, please find it below.
