Financing of $22 Million for Kredete to Extend Credit Services and Stablecoin Network Throughout Africa
African fintech startup Kredete has successfully raised $22 million in a Series A funding round, marking a significant milestone in its mission to expand financial access for Africans both on the continent and abroad.
Based in Africa, Kredete has been providing financial services to Africans, facilitating seamless money transfers, secure savings, and card payments for millions of African immigrants. This has enabled them to maintain financial connections with their families, while avoiding traditional remittance hurdles.
The funding round, led by AfricInvest Group and Financial Inclusion Vehicle (FIVE), also saw contributions from Partech and Polymorphic Capital. With this new capital injection, Kredete aims to scale its stablecoin network and strengthen the digital financial ecosystem across Africa.
Kredete's stablecoin infrastructure allows for fast, reliable, and low-cost cross-border transactions. This innovative technology is set to expand across more than 40 African countries, providing greater access to credit, financial tools, and economic opportunities for users in these regions.
The funds raised will be used to further grow Kredete's operations and services. Kredete's team, partners, and investors have expressed their support for this endeavour, with Kredete expressing its gratitude for their backing.
This milestone marks the beginning of Kredete's next growth phase in reshaping African financial services. With the expanded stablecoin network, Kredete is poised to revolutionise the way Africans access and manage their finances, both on the continent and abroad.
As Kredete scales, it will continue to prioritise its mission of expanding financial access for Africans, contributing to a more inclusive and prosperous financial landscape across the continent.
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