Stablecoin-backed transactions set for a transformation in Kenya as HoneyCoin secures a $4.9 million investment
HoneyCoin, a full-stack financial orchestration platform founded in 2020 by David Nandwa, has raised $4.9 million in a funding round led by global venture firm Flourish Ventures. The funding will aid HoneyCoin in scaling operations, expanding its product suite, and hiring new senior personnel.
With operations spanning over 45 markets and across four continents, HoneyCoin serves more than 350 enterprise customers and hundreds of thousands of consumers through its flagship consumer app, Peer. The platform allows customers to use stablecoins and traditional rails for real-time money movement, providing infrastructure for consumers and businesses to collect payments, move money, and issue bank accounts, debit cards, or wallets.
HoneyCoin's mission is to build the operating system for money, enabling it to be moved, held, and collected regardless of medium or geography. Nandwa, the founder, compared this shift in financial infrastructure to the transformations brought about by Apple in computing and Visa in global commerce.
To date, HoneyCoin has processed hundreds of dollars in transactions to over $150 million in monthly transaction volume. With the recent funding, the company aims to build a resilient, interoperable financial operating system that supports money movement, holding, and collection globally, integrating stablecoins and traditional payment rails. This strategy targets solidifying HoneyCoin as a major force in payments across Africa and other global markets, enabling faster, compliant, and cost-efficient cross-border transactions through hybrid fiat and blockchain infrastructure.
In addition to Flourish Ventures, Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler also participated in the funding round. The funds raised will help HoneyCoin strengthen its position as a prominent player in the payments industry, leading the transformation, across Africa and other global markets, by building the future infrastructure for finance worldwide.
References: [1] HoneyCoin. (n.d.). About Us. Retrieved from https://www.honeycoin.co/about-us [2] HoneyCoin. (n.d.). Press Releases. Retrieved from https://www.honeycoin.co/press [3] HoneyCoin. (n.d.). Our Team. Retrieved from https://www.honeycoin.co/team [4] HoneyCoin. (n.d.). Our Partners. Retrieved from https://www.honeycoin.co/partners
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