Kenya-based cryptocurrency startup, HoneyCoin, secures $4.9 million investment to revolutionize stablecoin-based transactions.
HoneyCoin, a full-stack financial orchestration platform, has raised $4.9 million in funding to scale its operations, expand its product suite, and bring on new senior hires. The funding round was led by global venture firm Flourish Ventures and included investments from several prominent venture capital firms and foundations.
Founded in 2020, HoneyCoin serves more than 350 enterprise customers and hundreds of thousands of consumers across over 45 markets and four continents. The company's mission, as stated by founder David Nandwa, is to build the operating system for money, aiming to transform financial infrastructure across Africa and other global markets.
HoneyCoin provides infrastructure for consumers and businesses to collect payments, move money in real-time, and issue bank accounts, debit cards, or wallets. The company leverages its proprietary stablecoin-powered AI Matching Engine and a global network of strategic banks to facilitate near-instant to same-day settlements.
With the fresh funding, HoneyCoin plans to broaden its presence in new emerging markets across Africa, Latin America, and Asia. The company aims to enter Mozambique, Zambia, Rwanda, Francophone Africa, Latin America, and Asia. The funding will also support hiring senior executives and securing additional operating licenses in these regions.
In terms of product expansion, HoneyCoin intends to launch several new offerings in Q3 2025. These include a stablecoin-backed debit card in partnership with Visa, a cross-border liquidity solution for African corporates in collaboration with Interswitch, banking-as-a-service (BaaS) products for Ghana, Malawi, and Tanzania, and a software point-of-sale (POS) solution targeted at the East African market.
HoneyCoin currently operates under financial licenses in Canada, the US, Europe, and holds regulatory approvals in key African markets, positioning it well to scale operations efficiently across new jurisdictions. The company processes hundreds of dollars in transactions to over $150 million in monthly transaction volume.
The funding aims to help HoneyCoin strengthen its position as a prominent player in the payments industry and lead the transformation of financial infrastructure, building resilient, interoperable infrastructure for the future of finance. HoneyCoin's goal is to redefine financial infrastructure, similar to how Apple redefined computing and Visa transformed global commerce.
The flagship consumer app of HoneyCoin is named Peer. Notable participants in the funding round include Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
HoneyCoin powers payments for millions of end-users across four continents, serving both consumers and businesses with its efficient, low-cost cross-border payment solutions. The company has experienced 16% month-on-month growth in B2B transaction volumes and serves over 350 corporate clients and 326,000 consumers.
- The new funding for HoneyCoin will be used to expand its business in various emerging markets, such as Mozambique, Zambia, Rwanda, Francophone Africa, Latin America, and Asia, via hiring senior executives and securing additional operating licenses.
- With the aim of leading the transformation of financial infrastructure, HoneyCoin plans to launch several new products in Q3 2025, including a stablecoin-backed debit card in partnership with Visa, a cross-border liquidity solution for African corporates, banking-as-a-service (BaaS) products for certain African countries, and a software point-of-sale (POS) solution targeted at the East African market, all of which demonstrate its commitment to technology and finance.
