Kulipa, a Paris-based stablecoin card issuing infrastructure platform, raised $6.2 million in a seed funding round. Flourish Ventures and 1kx co-led the round. White Star Capital and Fabric Ventures participated in the investment. Kulipa announced the funding on April 01, 2026. The round closed in December 2025 as a simple agreement for future equity.
Kulipa provides infrastructure that enables fintechs and crypto wallets to issue white-label stablecoin payment cards. The platform handles all card operations, including payment processing, fraud management, pre-fundings, and settlement.
Funding Overview
Kulipa secured $6.2 million in seed funding, with Flourish Ventures and 1kx investing as co-lead investors. The round closed last December, and Kulipa founder and CEO Axel Cateland confirmed its structure as a SAFE note, though he did not disclose details on valuation, board seats, or the fundraising start date. This seed round brings Kulipa’s total funding to $9.2 million.
About the Company
Kulipa founded in 2023 and operates from Paris. The company serves enterprise clients such as fintech platforms and crypto wallets. Kulipa issues white-label stablecoin payment cards for these clients.
Kulipa launched its infrastructure in February 2025. Since launch, Kulipa issued more than 120,000 cards. The company signed 20 customers, including:
- Fintech firms Flutterwave and nSave
- Crypto wallets Solflare and Ready (formerly Argent)
Kulipa reported 70% month-over-month growth in transaction volume. The company currently employs a team of 20 people and plans to expand to 30, with a focus on go-to-market and customer success roles. Kulipa generates revenue through client service fees and standard interchange income.
Investors
- Flourish Ventures
- 1kx
- White Star Capital
- Fabric Ventures
Market Context
Stablecoins settle more than $300 billion daily, but Kulipa addresses gaps in real-world stablecoin spending. The platform operates a local-first issuing model with coverage in the European Union, Argentina, and Nigeria. Kulipa plans U.S. expansion via a bank identification number sponsorship. Cateland did not name the sponsor due to confidentiality.
Kulipa intends to broaden coverage through its own licenses in Latin America and partners in Africa. Clients integrate with Kulipa via API to control the payment experience. Kulipa manages operational complexity, unlike direct paths to Visa or Mastercard, which require principal membership in each region. Kulipa combines stablecoins and AI for efficiency compared to traditional card issuers.
Funding History
Kulipa raised $3 million in pre-seed funding in July 2024, co-led by Fabric Ventures and White Star Capital, bringing its total funding to $3 million at that time. The recent $6.2 million seed round now increases Kulipa’s total funding to $9.2 million.
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