Ezeebit, a stablecoin and cryptocurrency payments infrastructure provider, has raised $2.05mn in seed funding to accelerate product development and merchant adoption across South Africa, Kenya and Nigeria, the company said.

The funding will be used to expand Ezeebit’s platform, which allows merchants to accept cryptocurrency payments with instant stablecoin settlement and next-business-day local fiat payouts, while deepening partnerships with banks, payment service providers and telecoms operators.

The seed round was led by Raba Partnership, an early investor in fintech companies including Flutterwave, Stitch, Fuse and BVNK, and joined by Founder Collective, an early backer of Uber, Airtable and The Trade Desk. The round also included strategic angel investors with backgrounds in payments, crypto infrastructure and financial services.

“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, chief executive and co-founder of Ezeebit. He said the company aims to connect decentralised finance with traditional payment systems through a stablecoin settlement layer supported by compliance and risk-management tooling.

Ezeebit said merchants in its target markets often face card payment fees of around 2–3%, alongside settlement delays of three to five days and frequent transaction declines. By contrast, the company said its platform offers merchant fees of around 1% or less, with instant stablecoin settlement and next-business-day local currency payouts, reducing both cost and settlement risk.

According to the 2025 Geography of Cryptocurrency report, sub-Saharan Africa received more than $205bn in on-chain value between July 2024 and June 2025, up 52% year on year, making it the third-fastest-growing crypto region globally after Asia-Pacific and Latin America.

Launched in 2023, Ezeebit said it has processed more than 30,000 transactions, generating several million dollars in gross merchandise value. Its merchant clients include retail, hospitality and consumer brands operating across multiple African markets.

Founder Collective said Ezeebit’s infrastructure — including wallet orchestration, instant hedging and compliance tooling — enables crypto payments to function in a way comparable to traditional card transactions, while expanding access in markets with high levels of financial exclusion.

Regulatory approaches to crypto and stablecoins remain uneven across Ezeebit’s core markets.

In Nigeria, the central bank lifted its formal restrictions on banks servicing crypto firms in late 2023, shifting toward supervision through AML and consumer-protection rules, while broader digital-asset regulation is still evolving.

Kenya has taken a consultative approach, with the government and regulators reviewing proposals for licensing and oversight of virtual-asset service providers.

In South Africa, crypto assets are already classified as financial products, placing providers under the supervision of the Financial Sector Conduct Authority, with licensing and compliance requirements now in force.