Payment orchestration platform HoneyCoin raised $4.9 M to transform stablecoin-powered payments
In order to solidify its position as a major force in the payments sector, Kenya’s HoneyCoin, a game-changing global payment orchestration platform, has raised US $4.9 million in funding to support its operations, product suite expansion, and hiring of senior staff.
A full-stack financial orchestration platform for consumers and businesses, HoneyCoin was founded in 2020 by David Nandwa. Its infrastructure enables its clients to issue bank accounts, debit cards, or wallets in more than 45 markets and on four continents, as well as to collect payments and move money in real-time using stablecoins and conventional rails.
More than 350 enterprise customers and hundreds of thousands of consumers are served by the platform’s flagship consumer app, Peer, which has grown rapidly since its launch, processing hundreds of dollars’ worth of transactions to over US$150 million in monthly transaction volume. Altogether, it facilitates payments for millions of end users on four continents.
In a round led by international venture capital firm Flourish Ventures and including Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler, HoneyCoin has raised US$4.9 million, positioning it for future expansion. The money will assist HoneyCoin in hiring more senior staff, growing its product line, and scaling operations.
“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. This raise enables us to lead that transformation, across Africa and other global markets, by building resilient, interoperable infrastructure for the future of finance,” said Nandwa.
