South African fintech Ezeebit has raised approximately US $2.05 million in a seed funding round to scale its stablecoin and cryptocurrency payment infrastructure across Africa, industry sources reported. The capital is earmarked to accelerate product development, expand merchant adoption and deepen partnerships in key markets, including South Africa, Kenya and Nigeria.
Founded in 2023 by brothers Daniel, David and Jonathan Katz, Ezeebit operates an FSCA-regulated payments platform that enables merchants to accept cryptocurrency and stablecoin transactions with instant settlement and next-business-day local fiat payouts, offering an alternative to traditional payment rails that are often slow and costly for African merchants.
The seed round was led by Raba Partnership, an investor known for backing fintech firms, and included participation from Founder Collective as well as strategic angel investors with experience in global payments and crypto infrastructure, said reports.
Since its launch, Ezeebit has processed more than 30,000 transactions totalling millions in gross merchandise value and counts brands such as iStore, Le Creuset, Scoin, Tintswalo Lodges, Amiri and Diesel among its clients.
Ezeebit’s platform supports payments from any digital wallet, including custodial, non-custodial, DeFi or offshore, via Android point-of-sale devices, e-commerce plugins and APIs, with settlement in stablecoins to mitigate volatility risks for merchants.
Company leadership said the funding will be used to broaden the startup’s footprint and strengthen ties with banks, payment service providers and telecommunications companies to enhance on-ground adoption of crypto-enabled payment solutions.
Analysts note that Africa’s low credit card penetration and rapid mobile money adoption create structural opportunities for compliant crypto payment systems that can bring faster, lower-cost settlement to both digital and physical commerce.
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