Kredete completes $22 million Series A funding round, led by CAIF and FIVE

BlockBeats News, on September 17, African fintech company Kredete announced the completion of a $22 million Series A funding round, led by AfricInvest through its Cathay AfricInvest Innovation Fund (CAIF) and Financial Inclusion Vehicle (FIVE), with participation from Partech and follow-on investment from Polymorphic Capital.

Kredete is committed to helping African immigrants improve their credit records through stablecoin payment and credit-building services, and plans to expand into the Canadian, UK, and European markets. The company will launch Africa's first stablecoin credit card, rental credit reports, credit savings plans, and other new features, and will build a bank and wallet aggregation API covering 41 countries to help businesses achieve secure, low-cost cross-border payments.