South African stablecoin and cryptocurrency payment startup Ezeebit has successfully secured R35 million (approximately $2.05 million) in seed funding. This significant capital raise was led by prominent investors, including Founder Collective and Raba Partnership, with strategic angels and early-stage investors from the global fintech and technology sectors also participating. The funding will be used to accelerate product development and aggressively drive merchant adoption across key African markets, specifically South Africa, Kenya, and Nigeria.
Ezeebit is addressing a critical opportunity in the African financial landscape, which is characterized by slow and expensive payment rails, low credit card penetration, and the rapid growth of mobile money. The company’s platform provides merchants with the ability to accept cryptocurrency payments while offering instant stablecoin settlement and guaranteed next-business-day local fiat payouts. This approach removes the risks of volatility and delays, offering merchants significant savings compared to traditional card payment systems. Since its launch in 2023, Ezeebit has already processed over 30,000 transactions, representing millions of dollars in gross merchandise value, and counts notable retail brands like iStore, Scoin, Le Creuset, and Diesel among its clients.
The company is positioning itself to leverage Africa’s explosive growth in cryptocurrency adoption, where Sub-Saharan Africa received over $205 billion in on-chain value between July 2024 and June 2025—a 52% year-on-year increase. With smartphone penetration projected to reach nearly 90% by 2030, the addressable market for digital financial solutions is expanding rapidly. Ezeebit’s strategy is to bridge the gap between decentralized finance and traditional payments by creating a compliant and efficient settlement layer. By simplifying complex crypto transactions into an experience comparable to conventional card payments, Ezeebit is building the essential infrastructure necessary to enable widespread, practical adoption of cryptocurrency as a standard payment method across the continent. The company plans to strengthen its payment reach by expanding strategic partnerships with banks, payment service providers, and telecommunications companies across its target markets.
