Nairobi-based HoneyCoin has raised $4.9 million in seed funding to expand its stablecoin-compatible payment orchestration platform across African and international markets, signaling a major push in blockchain-enabled financial infrastructure for emerging economies.
The round was led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, the Stellar Development Foundation, and other strategic investors. This investment marks a significant milestone for the East African fintech as it moves to redefine how businesses process cross-border and domestic payments.
Funding to Fuel Global Expansion and Compliance
In its official announcement, HoneyCoin stated that the new capital will be used to:
- Accelerate scaling plans into new African and global markets.
- Expand its product suite for enterprise and retail clients.
- Hire senior talent to drive technology, operations, and partnerships.
- Strengthen compliance and licensing capabilities across multiple jurisdictions.
The company currently operates in 45 countries, holding PCI-DSS Level 1 certification, the highest security standard for payment processing. HoneyCoin enables merchants and enterprises to accept mobile money, card, and bank payments across 15 African markets, as well as in the US, Canada, Europe, and the United Kingdom.
Faster Settlements Through Stablecoin Liquidity
Unlike traditional payment processors that require 4–7 business days for settlements, HoneyCoin leverages stablecoin-based liquidity systems to offer same-day or instant settlements. This approach is proving especially valuable in African markets, where FX volatility, slow clearing systems, and cross-border restrictions hinder trade and remittance flows.
Current enterprise clients include Cedar Money, TerraPay, and Nigerian e-commerce platform Jiji. While HoneyCoin has not disclosed specific transaction volumes, its growing client base suggests increasing adoption of blockchain-backed settlement rails in mainstream business operations.
Strategic Partnerships and Licensing
HoneyCoin holds regulatory licenses in the US, Canada, EU, and multiple African jurisdictions, enabling it to directly integrate with banks and telecom operators. Strategic partnerships include MoneyGram, UBA Bank, and Stripe, positioning the company as a bridge between traditional payment infrastructure and digital asset-powered solutions.
CEO’s Vision: The ‘Operating System for Money’
Founder and CEO David Nandwa likens HoneyCoin’s mission to transformational shifts in other industries:
“Our mission is to build the operating system for money — how it’s moved, held, and collected, regardless of medium or geography. Just as Apple redefined computing and Visa transformed global commerce, we believe financial infrastructure is undergoing another once-in-a-generation shift.”
Context: Blockchain in Global Payments
HoneyCoin’s raise comes amid a global trend of traditional payment giants embracing blockchain technology. Both Visa and Western Union have expanded crypto-enabled services in emerging markets, while Mastercard continues to pilot CBDC and stablecoin settlement projects.
The involvement of Visa Ventures in this round underscores the growing alignment between legacy financial institutions and blockchain-native companies. Flourish Ventures, which previously backed HoneyCoin in 2021, sees this follow-on investment as a step toward deepening financial inclusion in emerging markets.
With mobile money adoption skyrocketing and cross-border payment demand increasing, Africa’s payment ecosystem is at a critical juncture. HoneyCoin’s ability to integrate mobile money, banking, and blockchain liquidity into a single, compliant infrastructure could make it a leading player in the continent’s fintech transformation, while also positioning it as a global competitor in next-generation payments.
Read also: Stablecoins Now Power 43% of Sub-Saharan Crypto Transactions, Says Quidax
