South African cryptocurrency payment startup, Ezeebit, has raised R35 million (approximately $2.05 million) in seed funding to accelerate its mission of enabling widespread adoption of cryptocurrency as a practical payment method across Africa.
The round was led by prominent investors, including Founder Collective and Raba Partnership, along with strategic angels and early-stage investors with extensive experience in fintech and technology companies.
Founded in 2023, Ezeebit offers merchants the ability to accept cryptocurrency payments, providing instant stablecoin settlement and next-business-day local fiat payouts.
Since its launch, the company has processed over 30,000 transactions, handling millions of dollars in gross merchandise value. Its client roster includes notable brands such as iStore, Scoin, Diesel, Le Creuset, and Al Capone Premium.
The fresh capital will be used to accelerate product development and expand merchant adoption in South Africa, Kenya, and Nigeria. Ezeebit plans to strengthen its payment infrastructure through strategic partnerships with banks, payment service providers, and telecommunications companies, aiming to reach even more businesses across the continent.
Ezeebit’s founders have recognized a significant opportunity in Africa, where traditional payment systems are slow and expensive, and credit card usage is low. The growing use of mobile money, combined with the demand for low-cost, efficient payment solutions, makes the region an ideal market for crypto-enabled transactions. The company aims to reduce transaction fees for merchants, offering savings compared to traditional card payments, while minimizing delays and volatility risks.
With cryptocurrency adoption soaring in Sub-Saharan Africa receiving over $205 billion in on-chain value between July 2024 and June 2025, Ezeebit is well-positioned to bridge the gap between decentralized finance and traditional payments.
The funding round signals strong investor confidence in the company’s ability to reshape digital payments across the continent.