Bitcoin Payment Expansion Funded: MoneyBadger Secures $400K for Retail Sector Integration in South Africa
MoneyBadger, a South African crypto payments platform, has made significant strides in the world of digital currency, following a successful $400,000 pre-seed funding round led by P1 Ventures in July 2025[1][2][3]. The startup, co-founded by Carel van Wyk, a co-founder of Luno, and backed by P1 Ventures, focuses on enabling Bitcoin payments through QR codes and integrated POS systems using the Lightning Network[1][3].
Since its stealth launch in 2022, MoneyBadger has scaled rapidly, with its technology integrated into over 1,600 retail locations across sectors including supermarkets, fashion, and convenience stores[1]. A notable early success was the partnership with South African grocery giant Pick n Pay, which in February 2023 rolled out MoneyBadger’s Bitcoin payment solution nationwide, becoming the first retailer in Africa to offer Bitcoin payments at the till[1][2][4]. This implementation has led to monthly Bitcoin payment volumes of about R1.4 million (~$83,000), with Pick n Pay alone processing over R1 million (~$59,000) in Bitcoin monthly[1].
The platform's appeal is reinforced by partnerships, such as with Peach Payments, expanding acceptance of Bitcoin and other cryptocurrencies across broader merchant ecosystems[4]. Consumers can use Bitcoin and other cryptocurrencies to pay for groceries and a wide range of value-added services including airtime, electricity, bill payments, and travel tickets[1].
MoneyBadger's strong team combines fintech and crypto expertise, including CEO Carel van Wyk, Jacques Marais, a full-stack engineer with extensive experience in infrastructure and payment systems, and Brent Peterson, Head of Legal and Compliance, a recognized expert in cryptocurrency regulation and chair of the Crypto Asset Association of South Africa[3]. Three angel investors active in the Bitcoin and crypto ecosystem also participated in the funding[3].
The funding round was partly backed in Bitcoin, reflecting the platform's commitment to the digital currency[2]. MoneyBadger integrates with wallets like Binance, Luno, VALR, and AltCoinTrader, and its QR scanning technology has been adopted by platforms like Luno, VALR, Blink, and Aqua[3].
Hisham Halbouny, Managing Partner at P1 Ventures, believes in MoneyBadger's potential to redefine daily payments across Africa. He remarks that MoneyBadger is already making Bitcoin spendable at scale[2]. Given their current traction in retail adoption, robust technical infrastructure leveraging the Lightning Network, strategic partnerships, and a focus on mainstream usability, MoneyBadger exhibits significant growth potential in expanding crypto payment adoption across South Africa and potentially beyond[1][3][4].
[1] TechCentral. (2023). MoneyBadger crypto payment startup raises $400,000. [online] Available at: https://www.techcentral.co.za/monebadger-crypto-payment-startup-raises-400-000/
[2] BusinessTech. (2023). MoneyBadger raises $400,000 in pre-seed funding to bring crypto payments to South Africa. [online] Available at: https://businesstech.co.za/news/startups/381740/moneybadger-raises-400-000-in-pre-seed-funding-to-bring-crypto-payments-to-south-africa/
[3] Disrupt Africa. (2023). MoneyBadger raises pre-seed funding to bring crypto payments to South Africa. [online] Available at: https://disrupt-africa.com/2023/07/04/moneybadger-raises-pre-seed-funding-to-bring-crypto-payments-to-south-africa/
[4] ITWeb. (2023). Pick n Pay rolls out MoneyBadger's Bitcoin payment solution. [online] Available at: https://www.itweb.co.za/content/CZzMK4m50nIU1r9
- MoneyBadger's funding round, partially backed by Bitcoin, indicates the startup's commitment to the future of crypto regulation within the venture capital landscape, particularly in the technology-driven African market.
- With strategic partnerships in various sectors, including sports, Peach Payments, and Pick n Pay, MoneyBadger showcases its potential to democratize crypto usage in daily transactions, transforming the way South Africans engage with digital currencies.
