Kenyan Entrepreneur, Age 24, Acquires $4.9 Million to Revamp Digital Payments using Stablecoins as the Foundation
HoneyCoin Raises $4.9 Million to Revolutionize Cross-Border Payments
HoneyCoin, a Pan-African payment orchestration platform, has secured a seed round of $4.9 million, led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, and others. This funding will be used to scale the operation, expand the product suite, and bring on new senior hires.
Based in Nairobi, HoneyCoin leverages stablecoin and blockchain technology to modernize cross-border payments across Africa and beyond. The platform, founded by David Nandwa in 2020, operates in over 45 countries, including 15 African markets, the US, Canada, Europe, and the UK.
HoneyCoin's flagship consumer app is called Peer. Collectively. The platform enables businesses to collect and disburse payments via mobile money, card, and bank, facilitating up to 49 currency exchanges through its FXHub feature. It is PCI-DSS Level 1 certified and licensed across key markets, with direct integrations with banks and telecom operators such as MoneyGram, UBA Bank, and Stripe.
Efayomi Carr, Principal at Flourish Ventures, praises HoneyCoin for its potential to lead a transformation in financial infrastructure. Carr believes in David Nandwa's technical expertise and regulatory vision, stating, "HoneyCoin is building resilient, interoperable infrastructure for the future of finance, across Africa and other global markets."
HoneyCoin aims to develop a financial operating system for a hybrid future, where fiat and blockchain infrastructure converge to facilitate faster, compliant, and cost-efficient cross-border money movement. Their vision is to become Africa's "operating system for money," using an API-first approach to offer developers, payment service providers, and enterprises compliant access to stablecoin settlements and foreign exchange liquidity.
Since the initial backing in 2021, HoneyCoin has built a licensed, profitable, and high-growth infrastructure platform. The operation processes around $150 million in monthly transactions, serving more than 350 enterprise customers and hundreds of thousands of consumers via its consumer app, Peer. Collectively.
The recent funding round will fuel team growth, regulatory expansions, geographic growth into markets like Mozambique, Zambia, Rwanda, and Francophone Africa, and the launch of Visa-backed debit cards and B2B liquidity solutions by Q3 2025. By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin offers instant or same-day settlements, compared to the traditional four to seven-business-day timeframe.
In summary, HoneyCoin has quickly scaled from launch to processing billions in monthly transactions across continents and is currently expanding its reach and product offerings to enable efficient, inclusive financial infrastructure through stablecoin-based payment orchestration. The platform powers payments for millions of end-users across four continents and aims to strengthen its position as a prominent player in the payments industry.
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