Kulipa Secures $6.2 Million in Seed Funding to Expand Stablecoin Payment Infrastructure
A Paris-based stablecoin card issuing infrastructure provider, Kulipa, has successfully raised $6.2 million in a seed funding round. The investment was co-led by Flourish Ventures and 1kx, with additional backing from White Star Capital and Fabric Ventures. This significant capital injection will fuel the company's ambitious plans to scale its regulated card issuing capabilities across key regions, including Africa, Europe, and Latin America.
Bridging the Gap Between Blockchain and Traditional Payments
The funding is strategically aimed at enabling fintech platforms to transform stablecoins into practical, real-world spending tools. Stablecoin adoption is accelerating globally, with Africa emerging as a particularly vital market. Countries like Nigeria are at the forefront of this growth, yet stablecoins still represent only a small fraction of overall payment flows. This limitation is largely due to the fragmented and capital-intensive infrastructure required to connect blockchain-based settlements with traditional card networks.
Kulipa's innovative platform is designed to address this challenge head-on. By providing a stablecoin-native issuing solution, the company allows fintechs to issue globally accepted payment cards that are funded directly from stablecoin balances. This infrastructure not only enhances capital efficiency but also streamlines compliance processes and supports scalable deployment across multiple jurisdictions.
Diverse Applications and Operational Advantages
The platform supports a wide array of use cases, making it a versatile tool for modern financial needs. Key applications include:
- Payroll processing
- Cross-border payments
- Digital banking services
- Expenditure management
Operationally, Kulipa reduces the reliance on prefunding by verifying balances and settling transactions onchain. Additionally, the company assumes fraud liability for issued cards, which significantly eases the operational burdens for its partners and clients.
Leadership Insights and Strategic Vision
Founder and CEO Axel Cateland emphasized the company's core mission: to make stablecoins usable in everyday financial transactions. He described card issuance as a critical link between digital asset balances and real-world payments, noting that Kulipa's infrastructure is specifically built to help regulated fintechs scale effectively.
Currently, Kulipa operates with a local-first issuing model, boasting regulatory coverage in the European Union, Argentina, and Nigeria. The company has ambitious plans to expand into the United States, further broadening its global footprint.
Impressive Growth and Key Partnerships
Since its launch in February 2025, Kulipa has demonstrated remarkable growth. The company has issued over 120,000 cards and onboarded 20 clients, including notable names such as Flutterwave, Solflare, nSave, and Ready. Transaction volumes have surged, recording a 70 percent month-on-month growth, which reflects the rising demand for stablecoin-powered financial products.
Olugbenga Agboola, Chief Executive Officer of Flutterwave, highlighted the partnership's value, stating that it enables businesses to convert stablecoin balances into globally accepted payments. Similarly, Ready CEO Itamar Lesuisse praised the platform for allowing users to spend stablecoins seamlessly through card-based transactions.
This funding round marks a pivotal step for Kulipa as it continues to innovate and expand, positioning itself at the intersection of blockchain technology and traditional financial services.
