Grace Ashiru
South African fintech startup Ezeebit has secured approximately US$2.05 million in seed funding to expand its stablecoin and cryptocurrency payment infrastructure across Africa, according to industry sources. The funding will be deployed to speed up product development, grow merchant adoption, and strengthen partnerships in key markets, including South Africa, Kenya, and Nigeria.
Established in 2023 by brothers Daniel, David, and Jonathan Katz, Ezeebit operates an FSCA-regulated payments platform that allows merchants to accept cryptocurrency and stablecoin payments with instant settlement and next-business-day local fiat payouts. The platform provides an alternative to conventional payment rails, which are often slow and expensive for African merchants.
The seed round was led by Raba Partnership, a fintech-focused investor, with participation from Founder Collective and strategic angel investors experienced in global payments and crypto infrastructure, reports said.
Since launching, Ezeebit has processed over 30,000 transactions, generating millions in gross merchandise value, and serves clients including iStore, Le Creuset, Scoin, Tintswalo Lodges, Amiri, and Diesel.
Ezeebit’s platform enables payments from any digital wallet—custodial, non-custodial, DeFi, or offshore—through Android point-of-sale devices, e-commerce plugins, and APIs, while settling in stablecoins to reduce volatility risk for merchants.
The company’s leadership stated that the new capital will support geographic expansion and reinforce relationships with banks, payment service providers, and telecommunications companies to drive on-the-ground adoption of crypto-enabled payment solutions.
Analysts observe that Africa’s low credit card penetration combined with widespread mobile money usage presents structural opportunities for compliant crypto payment systems capable of delivering faster and more cost-effective settlement for both online and offline commerce.
