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Title: Kredete Raised $2.25M to Help African Immigrants Build Credit and Send Money Home

United States, 30th Aug 2024 - Kredete, a financial software platform dedicated to enabling African immigrants to build credit and send money back home, has successfully raised $2.25 million in seed funding. The round was led by BFF, with participation from notable investors including Techstars, Tezos Foundation, Polymorphic Capital, Launch Africa, Neer Venture Partners, SDF and DNA Fund. The round also saw contributions from angel investors who have supported successful payment ventures such as Wise and Western Union.Kredete is focused on addressing a significant gap in financial services for African immigrants who often face challenges in building credit in their new countries while continuing to support their families back home. The platform allows users to send money to over 20 countries with low fees, and each transaction contributes to their credit score in their new country. By leveraging a unique technology, Kredete offers an affordable and seamless solution that helps users establish a solid financial foundation in their new homes.Kredete is transforming the routine necessity of sending money back home into a powerful tool for credit building. This practical application is making a tangible difference in the lives of African immigrants, allowing them to establish credit histories and integrate more effectively into the financial systems of their new countries. The platform’s innovative approach is a game-changer for African immigrant communities striving to establish themselves in new environments.Since its launch, Kredete has experienced rapid growth, with its user base surpassing 300,000 and on average, users have seen their credit scores increase by 23 points within six months of using the platform, underscoring Kredete's significant impact on financial...

This press release is issued by King Newswire