TechFlow news, September 17 — According to Partech Partners, African fintech company Kredete today announced a $22 million Series A funding round led by AfricInvest’s Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with participation from Partech and Polymorphic Capital. Founded in 2023, the company aims to help African immigrants build credit histories through stablecoin payments and cross-border remittance services. The funds will be used to expand operations into Canada, the UK, and Europe, as well as launch Africa’s first stablecoin-backed credit card. Kredete currently has over 700,000 monthly active users and has facilitated $500 million in remittance transactions, averaging a 58-point increase in users’ credit scores. With this round, the company’s total raised capital reaches $24.75 million.
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