Designed to expand credit access for African immigrants, it enables money transfers to approximately 20 African countries.

Kredete is a fintech solution developed by a Nigerian startup designed specifically for African immigrants in North America. The platform enables users to send money to over 20 African countries and establish a credit score. 

Built on blockchain technology, Kredete ensures that all financial transactions are secure and efficient. For money transfers, the platform uses stablecoins, significantly reducing transfer fees. Launched in 2023 by Adeola Adedewe, Kredete secured $2.25 million in funding last August to enhance its technology and expand into new African markets.

According to Adedewe, "Kredete is more than just a remittance service; it’s a gateway to financial inclusion for African immigrants in the diaspora.”

“[...] Our goal is to empower our users to build a secure financial future, no matter where they are migrating into," he added.

Kredete is available as a mobile app on iOS and Android, with over 100,000 downloads on the Play Store. After downloading, users can create an account and access the platform. Users can then fund their multi-currency digital wallet to make various financial transactions.

On the mobile platform, users can transfer funds between digital wallets, send money to mobile money accounts in supported African countries, or make bank transfers. Each transaction contributes to building the user's credit score. Kredete updates user data with every transaction. Additionally, the startup offers a referral program that rewards users with up to $20 for each person they refer.

Adoni Conrad Quenum