Kulipa Secures $6.2M for Fintech Stablecoin Solutions

Kulipa, a fintech company, has successfully raised $6.2 million in seed funding to facilitate stablecoin spending for financial technology firms. The funding round was co-led by Flourish Ventures and 1kx, with participation from White Star Capital and Fabric Ventures.

Kulipa's founder and CEO, Axel Cata, emphasized the stablecoin's value as a settlement layer for everyday financial products. The company plans to launch its infrastructure by February 2025, aiming to issue 120,000 cards and sign 20 customers, including notable fintechs like Flutterwave, Solflar, and nSave.

The company has reported a 70% month-on-month transaction volume growth. Olugbenga Agboola, the founder and CEO of Flutterwave, highlighted the importance of building payment infrastructure that can scale across markets, while Itamar Lesuiss, CEO of Kulipa, noted the goal of enabling seamless access to everyday spending through compliant and scalable solutions.