Startup Fintech Kedete landed $ 22 million to expand credit infrastructure

Kedete, Nigeria’s startup fintech focusing on digital loans and credit access, has collected $ 22 million in Series A funding to improve credit development infrastructure and introduce stablecoin -powered transfers to the African market.

The funding round, led by a global venture company with the participation of regional fintech investors, positioned Kredete to overcome African’s persistent challenges for limited access to affordable credit.

Apart from rapid growth in cellular money and digital banking, more than 350 million adults throughout Africa still do not have a bank account or underbanked, with a little or no access to credit history.

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“Our vision is simple: If you support your family financially, it must be taken into account in your credit feasibility,” said Adeola Adedwe, founder and CEO of Kredete. “We are building a system that respects cross -border financial responsibilities. This increase is about the scaling of infrastructure globally – and ensuring that millions of Africans abroad are finally seen, printed, and served.”

The Kredete platform utilizes alternative data – such as cellular transactions, utility payments, and digital traces – to create credit profiles for consumers that are often not visible to traditional banks.

With this new capital, the company plans to deepen the partnership with lenders and expand its credit scores for fintechs and digital banks.