South African startup, Ezeebit, is making progress in the quickly changing world of digital finance. The cryptocurrency payment firm, which is regulated by the Financial Sector Conduct Authority (FSCA), has received $2.05 million in seed funding. Founder Collective, a US-based group, led this round of funding as stablecoins become more accepted in Africa.
Founded in 2023 by brothers Daniel, David, and Jonathan Katz, Ezeebit aims to make crypto payments easy for everyday buys. Stores can take crypto, get paid quickly in stablecoins, and see regular currency in their accounts the next business day. This avoids issues with value changes. Since it started, Ezeebit has processed over 30,000 buys, totaling millions in sales. Their customers include iStore, Le Creuset, Scoin, Tintswalo Lodges, and fashion brands Amiri and Diesel.
CEO and co-founder Daniel Katz says African stores often deal with slow, costly payment methods, while more people use crypto to send money or protect against rising prices. We connect crypto and regular finance with a stablecoin payment system that follows the rules, he says. He adds that this funding will support rolling out the needed payment structure, so millions can use the digital economy without problems.
It is important to consider what this means for Africa as a whole. Sub-Saharan Africa saw more than $205 billion in on-chain cryptocurrency between July 2024 and June 2025. This is up 52% from last year. This increase makes it one of the quickest growing areas, second to the Asia-Pacific and Latin America regions.
Still, there are problems. Credit card penetration hovers at just 4% among adults, and remittance costs are the highest globally at 8.78%. Mobile money has primed hundreds of millions for digital payments via QR codes or account transfers, but stablecoins could take that further, offering a cheaper, faster alternative. We see this change in areas like online gaming. South African online casinos work using international platforms. These platforms let players use cryptocurrencies like Bitcoin, Ethereum, and USDT to make payments.
These options give you private deposits and withdrawals in 5-10 minutes. Network fees are low. This solves problems like not being able to access banks easily and high costs in normal systems. But there are risks, like payments that cannot be reversed.
Ezeebit is good because fees are 1% or less. That’s 68% less costly than using cards. Also, payments are instant, not days later. Speed is not the only thing. It also helps people who cannot have bank accounts. Katz says that getting crypto for sending money home makes people want to spend it on goods and services. This gets more people to use crypto.
Investors are also excited. David Frankel, co-founder and managing partner at Founder Collective, says the African scene is extraordinary. He says that millions hold crypto but cannot spend it easily, while stores want better systems than they have now. Ezeebit is building the bridge, Frankel says, praising the team’s tech and market skills.
Another general partner at the firm, Amanda Herson, agrees. What’s impressive, she says, is how Ezeebit makes things simple. Wallet handling, quick protection against risk, and meeting requirements are all part of making crypto payments as easy as tapping a card. Herson adds, They’re making it easier to get started and building a brand people can trust.
This push could ripple into various sectors needing seamless online transactions. With smartphone penetration set to hit 87% by 2030, the addressable market is exploding. Ezeebit isn’t waiting around; they’re scaling now to meet it.
South African startup, Ezeebit, is making progress in the quickly changing world of digital finance. The cryptocurrency payment firm, which is regulated by the Financial Sector Conduct Authority (FSCA), has received $2.05 million in seed funding. Founder Collective, a US-based group, led this round of funding as stablecoins become more accepted in Africa. Founded in