DFS Lab and Stellar Launch a Fund for Digital Payments in Africa

DFS Lab has launched the DFS Lab Stellar Africa Fund I. The fund has been made possible because of an investment from Stellar Development Foundation.  

We’ve seen developers build solutions on Stellar that address local needs, ranging from wallet apps and remittance services to digital identity solutions. We’ve worked with growing teams across Africa, and we’re excited to be expanding our relationship with DFS Lab to support more African founders.

Daniel Casanas, Head of Investments, Stellar Development Foundation

At DFS Lab, we have always taken a pragmatic approach when it comes to decentralized finance in Africa. It is hard to deny the potential that decentralized solutions can offer in a continent where finance is oftentimes bogged down by inefficiency, opacity, and lack of interoperability.

We’ve now seen a rush of talent and capital enter into this space, helping to refine the potential use cases for technologies like blockchain and crypto in Africa. Undoubtedly, some approaches will falter as hype gives way to reality, but those who break through and find traction may find themselves building foundational platforms that can underpin the future of digital transactions on the continent. We believe that’s an opportunity well worth exploring.

Joseph Benson, Partner at DFS Lab

We’ll back pre-seed and seed teams building for Africa. We’re open to various use cases, but will be especially interested in those solving for fiat-crypto ramps and those building cross-border payments for the continent.

Stephen Deng, Partner, DFS Lab