Checker Raises $8 Million to Power Financial Innovation in Africa, Asia, and Beyond

Checker, a startup building infrastructure for stablecoin-powered payments, has announced an $8 million seed funding round. The investment will fuel the company’s expansion across emerging markets where digital asset regulations are taking shape.

The round was led by Galaxy Ventures, Al Mada Ventures (the venture arm of Morocco’s royal family investment group), and Framework Ventures. Participants also included financial institutions like DFS Lab, Bitso, Airtm, Onigiri Capital, SNZ Capital, and Velocity Capital, as well as tech operators such as Flutterwave co-founder Iyin Aboyeji.

Meeting Growing Demand in Regulated Markets

Checker’s platform enables regulated financial institutions – including banks, remittance providers, and neobanks – to access global stablecoin liquidity through a single API integration. This addresses a critical need as more African markets formalize regulations for digital assets. Kenya introduced its VASP framework in 2025 with draft regulations released in 2026, while Ghana passed similar legislation establishing clear operational guidelines.

“This funding allows us to accelerate our mission to enable financial institutions from Brazil and Kenya to Hong Kong and the United States to transform how foreign exchange, payments, trading, and investment products are built,” said Jack Chong, CEO of Checker.

Key Use of Funds

The company plans to use the capital to:

• Expand global payment coverage with additional currencies and markets
• Build embedded borrowing and lending features
• Launch AI-powered treasury management tools for financial institutions

Checker’s network currently supports 75 currencies across key African markets including Nigeria, Kenya, Tanzania, Ghana, and Francophone West Africa.

Market Opportunity

The startup enters a growing market as more businesses explore stablecoin payments. Recent developments include PAPSS launching an African Currency Marketplace on the Bantu blockchain and Flutterwave selecting Polygon for cross-border payment solutions.

Checker’s competitors in this space include companies like Conduit, but its focus on regulated institutions differentiates it from those targeting crypto-native users.