Ezeebit secures $2m funding to enhance cryptocurrency payment solutions in Africa

Ezeebit, the FSCA-regulated stablecoin and cryptocurrency payment infrastructure company, has announced the close of a $2.05 million (R35m) seed funding round. The capital will be used to accelerate product development and merchant adoption in South Africa, Kenya, and Nigeria and expand strategic partnerships with banks, PSPs, and telcos.

Ezeebit enables merchants to accept cryptocurrency payments with instant stablecoin settlement and next-business-day local fiat payouts. 

Operating since 2023, it was founded by three brothers - Daniel, Jonathan, and David Katz - who saw firsthand how traditional payment systems were failing African merchants, Ezeebit was built from the ground up to solve real merchant problems with compliance-first infrastructure. The company serves brick-and- mortar and online merchants across South Africa with expansion planned into the rest of Africa.

Since launching in 2023, the company has already processed more than 30 000 transactions totalling millions of dollars in gross merchandise value. Clients include iStore, Le Creuset, Scoin, Tintswalo Lodges, Amiri and Diesel.

The round was led by Raba Partnership, an earlier backer of Flutterwave, Stitch, Fuse, and BVNK and joined by Founder Collective, which was an early backer of Uber, WHOOP, Airtable, and The Trade Desk. The round also includes strategic angels Terry Angelos (ex-Visa), Anton Katz (Talos), Nadir Khamissa (Hello Group), David De Picciotto (ex-Revolut), and Chris Harmse (BVNK). 

“African merchants are tied to slow, expensive payment rails, while consumers increasingly hold crypto for remittances and savings but lack a safe way to spend it,” said Daniel Katz, CEO and Co-Founder of Ezeebit. “We bridge this gap by connecting decentralised and traditional finance with a compliant stablecoin settlement layer. This funding empowers us to provide that vital infrastructure, allowing millions to participate fully in the global digital economy.”

He said mobile money has already sensitised hundreds of millions of consumers to pay digitally via QR and account-to-account transfers. Stablecoins are the logical next step.

"What’s more, at 8.78%, Sub-Saharan Africa remains the most expensive region in the world to receive remittances, making crypto rails a compelling alternative. And, once consumers have received crypto, they are eager to spend it on goods and services, creating a reinforcing growth loop,” Katz said. 

David Frankel, the co-founder and managing partner at Founder Collective said, “What’s happening in Africa is extraordinary. Millions of people hold crypto but can’t spend it; merchants need faster, cheaper rails, but legacy systems keep them locked out. Ezeebit is building the bridge. This team has an uncommon gift for integrating modern financial technology with a grounded understanding of the dynamics shaping the markets they serve.”

Amanda Herson, the general partner at Founder Collective, added, “What excites us most is how Ezeebit makes something complex feel simple. They've built real infrastructure, including wallet orchestration, instant hedging, and compliance tooling, that makes crypto payments work like tapping a card. In markets where half the population is unbanked, Ezeebit isn't just processing transactions, they're opening access and building a trusted brand in the space.”

BUSINESS REPORT