Bitcoin payments startup MoneyBadger raises R7m

Carel van Wyk, CEO MoneyBadger | image supplied

The round was led by Africa-focused venture capital firm P1 Ventures, with support from three angel investors active in the crypto space.

With the new funding, MoneyBadger plans to grow its network by partnering with payment providers for large retailers, e-commerce platforms and QR-code payment networks. The company is also preparing to expand its services to additional markets on the continent.

MoneyBadger enables consumers to pay with Bitcoin and other cryptocurrencies at major retail outlets, including over 1,600 Pick n Pay stores nationwide. Since launching, the startup has processed over R1.4m in monthly crypto transactions.

The company began as a pilot project when Pick n Pay explored integrating Bitcoin payments into its tills.

Using the Bitcoin Lightning Network, MoneyBadger developed a fast and cost-effective solution that has since evolved into a full-service crypto payments platform.

Co-founded by Carel van Wyk, one of the original founders of crypto exchange Luno, and Carl Kritzinger of FireWorks, the MoneyBadger team includes fintech and compliance veterans from SnapScan and the Crypto Asset Association of South Africa.

The startup’s proprietary technology integrates with major crypto wallets and enables real-time payments in-store and online.

While regulatory uncertainty continues to shape the crypto conversation in many regions, MoneyBadger’s focus is on scaling crypto utility in real-world transactions.

The company’s model allows retailers to accept Bitcoin and settle in either crypto or local currency, aiming to bridge the gap between decentralised finance and traditional commerce.