Checker Secures $8 Million Seed Round for Global Payments Expansion

Checker, a startup providing infrastructure for stablecoin-powered payments, has raised $8 million in seed funding led by Galaxy Ventures and Al Mada Ventures. The round included participation from financial institutions across Africa, Asia, and Latin America, as well as operators like Flutterwave co-founder Iyin Aboyeji and former Onafriq VP Gwera Kiwana.

Addressing a Growing Market Need

The funding comes at an opportune moment as regulators in several African countries formalize frameworks for stablecoins and virtual asset service providers (VASPs). Kenya introduced its VASP framework in 2025 with draft regulations released in 2026, while Ghana passed similar legislation establishing a clear legal basis for digital assets.

Checker aims to capitalize on this trend by providing a trusted orchestration layer that connects regulated financial institutions across different markets. According to Jack Chong, CEO of Checker: “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.”

Key Use Cases for Funding

The company plans to use the capital to:

• Deepen global payment coverage with more market integrations
• Build embedded borrowing and lending products
• Launch AI agents for treasury management and predictive analytics

Currently, Checker supports 75 currencies across key African markets including Nigeria, Kenya, Tanzania, Ghana, and Francophone West Africa.

Technology Overview

Checker’s API integration enables regulated institutions (banks, remittance providers, neobanks) to access global stablecoin liquidity. Instead of integrating with multiple providers separately, institutions can connect through a single platform. This reduces settlement times, fees, and complexity—particularly for cross-border transactions.

As Isaac Umejiaku, Head of Africa Sales at Checker notes: “We’re building the network-of-networks infrastructure for the stablecoin era… With one integration, we connect African financial institutions to multiple payment providers globally.”

Market Context and Competition

Checker enters a competitive landscape with players like Conduit vying to become the backend rails for global payments. The company differentiates through its focus on regulated financial institutions and comprehensive market coverage.

This investment underscores growing institutional interest in stablecoin technology as a foundation for next-generation payment systems across emerging markets.