Kredete – Payments platform for diaspora communities
Build credit while you send money home.
Kredete helps African immigrants build a U.S. credit profile while they remit money to family in more than 30 countries, linking bill payments and remittances to a credit-scoring engine. It earns revenue from transaction fees and upcoming card interchange.
The platform already serves 700k monthly users, has processed $500 million in remittances, and reports an average 58-point improvement in users’ U.S. credit scores.
In its recent $22 million Series A led by AfricInvest Group’s CAIF and FIVE with Partech and Polymorphic Capital, CEO Adeola Adedewe announced plans to expand to Canada, the UK, and Europe and to launch Africa’s first stablecoin-backed credit card. By turning remittances into credit history, Kredete could unlock a new diaspora banking model.
Every day, we feature one curated fintech on the FinBox Solutions page.
The project with the most votes becomes Fintech of the week.
How many points is your next remittance worth?
#fintech #startup #businessmodel #fintechoftheday #remittance #credit
Hakeem Oriola Ebuka Arinze
Subscribe for Fintech of the Day. We handpick one fintech startup every day. Please don’t miss the next one and receive emails when new content is published!
