Kredete closed a $22M Series A in September 2025 led by AfricInvest. The round included participation from Partech, Polymorphic Capital, Blockchain Founders Fund, Techstars, Tezos Foundation, Launch Africa, Neer Venture Partners, and DNA Fund.

The company previously raised a $2.25M seed round in August 2024 from investors including Techstars, Tezos Foundation, Launch Africa, and other early-stage funds. Kredete has raised $24.75M in total funding across both rounds.

Kredete is a mobile banking app that combines three separate financial workflows for African immigrants into one stablecoin-powered platform. Users download the app, complete KYC verification with a passport or international ID, and receive an FDIC-insured USD account issued by a US partner bank.

The core remittance flow works by converting user USD balances to USDC stablecoin, moving funds on-chain, and paying out locally through bank, mobile money, or cash pickup partners across 30+ African countries in under 5 minutes. Users can fund their accounts via ACH, debit card, or external crypto wallets, with balances held in dollars, USDC, or converted to 20+ other currencies in real time.

Every successful transfer gets reported as an on-time payment to US credit bureaus through Kredete's data furnishing partnership, helping users build credit history from routine remittances. The platform includes a secured credit card that settles purchases in USDC and reports to credit bureaus, plus rent and utilities reporting launched in 2025.

Additional features include Kredete Earn, which sweeps idle USDC into Treasury bills and money market instruments for yield, and a Network API that lets payment service providers and payroll companies push bulk payouts to Africa without directly handling cryptocurrency.

Kredete operates a B2C neobank model with B2B API services, monetizing through a combination of foreign exchange spreads, fixed fees, and financial services revenue. The company markets remittances as fee-free but captures revenue through FX spreads of approximately 0.5% plus platform fees under $1 per transfer.

The credit-building component creates a flywheel where routine remittances generate credit history, enabling users to access additional financial products like secured credit cards and eventually unsecured lending. This transforms one-time transaction customers into recurring financial services users with expanding product adoption.

Kredete's stablecoin infrastructure allows the company to bypass traditional correspondent banking relationships and SWIFT networks, reducing settlement times from days to minutes while cutting operational costs. The company maintains FDIC insurance through banking partnerships while leveraging crypto rails for cross-border movement.

The B2B API layer lets other companies white-label Kredete's stablecoin payment infrastructure, creating a second revenue stream from transaction volume without direct customer acquisition costs. This positions Kredete as infrastructure for other fintech companies serving African diaspora communities.

Chipper Cash operates across 25+ currencies with over 7M users, routing more than 50% of Bitcoin flows via Lightning Network to reduce settlement costs. The company has partnerships with Block's TBD and Ripple for stablecoin liquidity, positioning itself as a low-cost infrastructure provider to wallets and neobanks.

Flutterwave added 20 new US Money Transmitter Licenses in 2025 for a total of 34, giving it direct control over compliance and fee structures. The company relaunched its Send App with integrated FX engines and stablecoin capabilities, eliminating third-party processor dependencies.

LemFi processes over $1B in monthly volume and recently acquired Pillar to add credit-building cards for UK immigrants. The company's $53M Series B funds expansion into Europe and Asia, directly overlapping with Kredete's target corridors.

Yellow Card focuses purely on B2B stablecoin infrastructure with 99% of volume now in USDT and USDC. Their Visa pilot program allows merchants to push stablecoin payouts directly to cards and bank accounts, competing with Kredete's API business.

Nala pivoted from consumer remittances to B2B payouts, partnering with Equity Bank and Pesalink for direct bank integration across East Africa. This eliminates cash pickup fees and provides faster settlement than stablecoin-to-fiat conversion.

Nova Credit provides credit history portability for immigrants, allowing them to use foreign credit reports for US lending decisions. This addresses the same credit-building need as Kredete but through data transfer rather than new payment behavior.

Esusu specializes in rent reporting to credit bureaus, capturing the same credit-building opportunity that Kredete addresses through remittances. Their focus on housing payments creates a larger recurring transaction base for credit history generation.

Kredete plans to enter Canada, the UK, and EU markets in 2025-26, adding approximately 3M addressable African immigrants to its current US base. These corridors represent significant remittance volumes with similar regulatory frameworks to the company's existing operations.

The company aims to expand receiver market coverage from 30 to 50 African countries by 2026, capturing a larger share of the $54B in annual formal remittances to Sub-Saharan Africa. Additional countries would increase transaction volume from existing users while attracting new diaspora communities.

The stablecoin-backed credit card launching across 41+ African countries creates a revolving credit product that reports to US, Canadian, and UK credit bureaus while avoiding foreign exchange markups. This transforms Kredete from a remittance service into a full-service credit provider.

Planned products include rent reporting, goal-based loans, and auto loans that leverage the same credit bureau relationships and payment data. These higher-margin lending products increase average revenue per user while deepening customer relationships beyond basic remittances.

Kredete's Network API positions the company as infrastructure for banks, wallets, and payroll platforms needing stablecoin payout capabilities to Africa. This creates a Stripe-like business model for cross-border stablecoin payments with recurring API revenue.

The company can expand into SME and gig platform payouts, as 30% of Nigerian stablecoin users already employ digital currencies for business payments. This B2B expansion leverages existing infrastructure while accessing higher-volume commercial transactions.

Regulatory tightening: Stablecoin regulations are evolving rapidly across US, EU, and African jurisdictions, with new compliance requirements for treasury management, custody, and consumer credit reporting. Changes in money transmitter licensing or stablecoin classification could significantly increase operational costs or restrict cross-border flows.

Incumbent competition: Large players like Flutterwave and Chipper Cash are vertically integrating stablecoin capabilities while maintaining existing user bases and regulatory licenses. These competitors can leverage scale advantages and established market presence to offer similar services at lower costs.

Credit model concentration: Kredete's differentiation relies heavily on credit bureau reporting partnerships and the assumption that remittance behavior predicts creditworthiness. Changes in credit scoring methodologies or bureau relationships could undermine the core value proposition that separates Kredete from pure remittance providers.