HoneyCoin Secures $4.9M to Scale Stablecoin-Powered Cross-Border Payments

HoneyCoin, a Nairobi-based Web3 payment platform, has raised $4.9 million in a funding round led by Flourish Ventures, with participation from TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, Antler, and Visa Ventures [4]. This marks a significant step in the company’s mission to modernize cross-border payment systems through stablecoin-powered infrastructure. The new capital will be used to scale operations, onboard senior executives, and strengthen regulatory compliance, while expanding into markets such as Mozambique, Zambia, Rwanda, and Francophone Africa [4].

Founded in 2020 by David Nandwa at the age of 19, HoneyCoin has grown to serve 350 corporate clients and 326,000 direct consumers, with its platform processing over $1.5 billion in monthly transaction volume [4]. The company’s technology enables instant or same-day settlement across 45 countries by connecting directly to banks, mobile money systems, and global payment partners such as MoneyGram, UBA Bank, and Stripe. Its proprietary AI Matching Engine optimizes transaction flows based on customer and volume data, enhancing the efficiency of its blockchain-based settlement rails [4].

HoneyCoin’s business model focuses on B2B settlement and acquiring services, with corporate clients paying up to $2,500 per month to integrate its payment API [4]. The company has maintained profitability for two years and aspires to become the “operating system for money,” drawing a parallel to Apple’s transformation of computing [4]. With regulatory licenses secured in Canada, Europe, and the U.S., as well as Letters of No Objection in Kenya, Nigeria, and Tanzania, HoneyCoin is positioning itself as a trusted infrastructure player in the cross-border payments space [4].

The company’s expansion strategy includes launching new products in Q3 2025, such as a stablecoin-backed debit card in partnership with Visa, a cross-border liquidity solution for African corporates with Interswitch, and a banking-as-a-service product in Ghana, Malawi, and Tanzania [4]. These initiatives underscore HoneyCoin’s ambition to provide a comprehensive financial infrastructure for businesses and consumers across emerging markets.

Efayomi Carr of Flourish Ventures highlighted HoneyCoin’s potential to become the go-to infrastructure layer for B2B cross-border payments in Africa [4]. The investment is expected to accelerate the company’s growth, deepen its relationships with financial institutions, and scale its operations to serve larger enterprises.

Currently operating in 15 African countries, the U.S., parts of Europe, and other emerging markets, HoneyCoin’s B2B transaction volumes are growing at a 16% monthly rate, while consumer activity through its Peer app is increasing at 5% per month [4]. The company’s long-term vision is to compete with leading fintechs such as VertoFX, Nala, Yellow Card, and Cellulant [4].

Source: [1] HoneyCoin Raises $4.9M to Transform Stablecoin-Powered Payments Across Africa and Global Markets. (https://africamoneydefisummit.com/honeycoin-raises-4-9m-to-transform-stablecoin-powered-payments-across-africa-and-global-markets/)

[2] Flourish Ventures. (https://www.linkedin.com/company/flourishventures)

[3] Stablecoin Payments Solution, HoneyCoin, UpScales With ... (https://web3africa.news/2025/08/12/news/stablecoin-payments-solution/)

[4] HoneyCoin raises $4.9 million to expand into new markets. (https://techcabal.com/2025/08/12/kenyas-honeycoin-raises-4-9-million/)