Kredete Secures $2.25M to Boost Credit Scores and Expand Financial Services for African Immigrants

Kredete, a fintech platform focused on empowering African immigrants by facilitating credit score building and remittance services, has raised $2.25 million in seed funding. This funding round was led by Blockchain Founders Fund and included contributions from Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, DNA Fund, as well as angel investors from leading payment companies such as Wise and Western Union.

Established in 2023, Kredete aims to help African immigrants enhance their credit scores through financial transactions while also offering remittance services to over 20 African countries. The company plans to expand its services to cover all African nations and is preparing to introduce a range of new financial products, including credit cards, auto loans, and mortgages, designed specifically to meet the needs of African immigrants.

By leveraging each transaction to improve users’ credit profiles in their new countries, Kredete is positioning itself as a key player in addressing the financial needs of African immigrants, with a vision to provide them with comprehensive access to credit facilities in global markets.