Ezeebit, a South African fintech specializing in stablecoin and cryptocurrency payment infrastructure, has successfully closed a $2.05 million seed funding round. The investment, led by Raba Partnership with participation from Founder Collective, will accelerate product development and merchant expansion across South Africa, Kenya, and Nigeria. The company aims to bridge the gap between the continent’s fast-growing digital asset economy and traditional merchant payment systems.
Solving a Dual-Sided Market Challenge
African merchants continue to face slow, expensive, and unreliable traditional payment rails with high fees and delayed settlement. Meanwhile, millions of consumers hold cryptocurrency for savings and remittances but lack easy, safe ways to spend it. Ezeebit addresses both issues by enabling seamless crypto payments for merchants and consumers.
The company supports payments from any digital wallet, whether custodial, non-custodial, DeFi, or offshore. Merchants can accept Bitcoin, USDT, USDC, ETH, and others across Android ePOS devices, e-commerce plug-ins, and API integrations. Settlement occurs instantly in stablecoins, removing volatility risk, with next-business-day fiat payouts. Transaction fees are typically 1 percent or less, offering significant savings compared to legacy card networks.
Strategic Investment for Targeted Growth
The seed round was led by Raba Partnership, an early investor in several notable African fintechs, with Founder Collective joining the round. Additional strategic angels include senior operators and experts from Visa, Talos, Hello Group, BVNK, and Revolut. This mix of capital and domain knowledge strengthens Ezeebit’s ability to scale across multiple markets.
Ezeebit will use the funding to accelerate its product roadmap and boost merchant adoption. The company also plans to deepen partnerships with banks, payment service providers, and telecom operators. Since its launch in 2023, Ezeebit has processed more than 30,000 transactions for clients such as iStore, Le Creuset, Scoin, Tintswalo Lodges, Amiri, and Diesel.
Capitalizing on Favorable Market Trends
The company is positioned in a region with powerful structural tailwinds. Credit card penetration in Sub-Saharan Africa remains below 5 percent, inflation remains elevated in multiple countries, and mobile money has already normalized QR and account-to-account payments for hundreds of millions of users.
Stablecoins are emerging as a reliable medium of exchange in this context. On-chain activity in Sub-Saharan Africa has grown sharply year over year, with the region ranking among the fastest-growing globally in digital asset usage.
Daniel Katz, CEO and Co-Founder of Ezeebit, says stablecoins represent the natural next step in Africa’s digital payment evolution, following the widespread adoption of mobile money. Investor David Frankel from Founder Collective highlights that Ezeebit solves a critical market disconnect, enabling merchants to access faster, cheaper payment rails while giving crypto-holding consumers practical spending options. General Partner Amanda Herson adds that Ezeebit’s infrastructure makes crypto payments feel as simple as tapping a card.
A Foundation Built on Regulatory Compliance
Ezeebit operates under South Africa’s Financial Sector Conduct Authority, licensed as both a Financial Services Provider and a Crypto Asset Service Provider. This compliance-first model allows merchants to accept digital assets without taking on regulatory or volatility exposure.
The platform also integrates AML and KYC tools by design, is Travel Rule ready, and supports a wallet-agnostic checkout experience. This regulatory rigor and focus on usability are central to building trust across both merchants and consumers.
This seed round marks a major milestone for Ezeebit as it scales stablecoin payment infrastructure across Africa. By delivering a low-cost, compliant, and efficient payment system, the company is positioned to drive wider adoption of digital payments and strengthen financial inclusion across the continent.