New Investment: Kredete
What they do:
Kredete provides a comprehensive solution to Africa's limited access to credit by operating as a digital lending marketplace that connects borrowers and lenders, resulting in a seamless lending experience for both parties. Kredete's all-in-one lending infrastructure is designed specifically for lenders, giving them access to a curated list of borrowers who meet their lending criteria.
Kredete’s platform streamlines the entire lending process from loan application, decisioning using Artificial Intelligence (A.I), disbursement, and repayment/collection. The platform’s data-driven lending decisions enable lenders to reduce risk and increase profitability.
Why we invested:
Kredete operates in a vast and lucrative market opportunity within Africa's digital lending landscape. With a total available market reflecting a substantial $360 billion credit gap across the African continent, kredete is well positioned to capture a meaningful share of the market and address the pressing financial needs of individuals and businesses across the region.
They have built an infrastructure to allow banks and traditional lenders across the region to digitize their loan offerings and how they engage with customers regarding those loans.
When we Invested:
The Investment in Kredete was made in Q1/2024
The Founder:
Adeola Adedewe is the Founder and CEO of Kredete. He is a serial entrepreneur and holds an MBA from Harvard University with a focus on Entrepreneurship in Emerging Economies and an MSc in Finance & Accounting from the City University of New York. His professional background also includes a stint with JP Morgan Chase in the United States.
Notably, Adeola created and sold an employee engagement platform to WeWork, where he then worked. With a strong belief in technology's transformative potential in Africa, Adeola established Kredete as a leading digital lending marketplace, transforming access to credit and financial services for individuals and small businesses across the continent.
Active in:
Nigeria, Ghana and Kenya
