Ezeebit Raises $2.5m to Advance Stablecoin Payments Across Africa
Ezeebit Raises $2.5m to Advance Stablecoin Payments Across Africa. Ezeebit has secured a 2.5 million dollar seed round to accelerate the growth of its FSCA regulated stablecoin and cryptocurrency payment infrastructure across South Africa, Kenya and Nigeria. The funding will support product development, merchant expansion and new partnerships with banks, payment service providers and telecommunications companies.
Founded in 2023, Ezeebit allows merchants to accept cryptocurrency payments with instant stablecoin settlement and next business day fiat payouts. Since launch, the company has processed more than 30,000 transactions across millions of dollars in GMV, serving both local and international clients. These include iStore, Le Creuset, Scoin, Tintswalo Lodges, Amiri and Diesel.
The seed round was led by Raba Partnership, an investor in Flutterwave, Stitch, Fuse and BVNK. Founder Collective participated, along with several strategic angels including Terry Angelos, Anton Katz, Nadir Khamissa, David De Picciotto and Chris Harmse.
Ezeebit’s focus is on bridging the gap between cryptocurrency and traditional payments. CEO and co founder Daniel Katz said merchants across the continent continue to rely on slow and costly payment rails while consumers increasingly use crypto for remittances and savings. He noted that the company’s settlement layer aims to connect decentralised and traditional finance in a fully compliant framework.
For many merchants, high fees and long settlement times remain major barriers. Card payments often cost between two and three percent, with multi day settlement and limited cross border functionality. Ezeebit offers fees of one percent or less, instant stablecoin settlement and next business day fiat payouts. The company reports growing demand driven by inflationary pressure in some markets, low credit card penetration and strong adoption of mobile money and QR based payments.
Compliance is central to the platform. Ezeebit is an FSCA regulated Financial Services Provider and Crypto Asset Service Provider. Its infrastructure includes AML and KYC tools as well as Travel Rule readiness. Merchants can accept Bitcoin, USDT, USDC and ETH through Android ePOS devices, e commerce plugins and APIs. The system is wallet agnostic, allowing payments from custodial, DeFi or international wallets.
Investors say the company is well positioned to address Africa’s high remittance costs and support a compliant crypto ecosystem that reduces friction for both consumers and merchants. The new funding marks a significant step in expanding stablecoin powered payments across the continent.
