HoneyCoin Secures $4.9M Seed Funding to Boost Stablecoin Payments
Kenya-based HoneyCoin, a comprehensive payment platform integrating stablecoins, has successfully raised $4.9 million in a seed funding round. This significant investment will fuel the company’s expansion plans, including enhancing its product offerings, recruiting experienced professionals, and extending its global footprint. The platform focuses on improving cross-border payments by merging traditional financial systems with blockchain technology, addressing critical inefficiencies in the current financial landscape.
# Building the Future of Finance in Africa
HoneyCoin, founded in 2020 by 19-year-old blockchain engineer and serial entrepreneur David Nandwa, aims to create a “financial operating system for a hybrid future.” Nandwa’s vision is to facilitate quicker and compliant cross-border transactions by seamlessly integrating fiat currencies and blockchain technology. The seed round was led by Flourish Ventures and saw participation from prominent investors like Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. The company processes over $150 million in monthly transaction volume, serves more than 350 enterprise clients and hundreds of thousands of individual users, and operates in over 45 countries. HoneyCoin is also PCI-DSS Level 1 certified, demonstrating its commitment to stringent security protocols.
This funding marks a crucial step for HoneyCoin. By tackling slow, fragmented cross-border payment systems, the company is positioned to become a key player in the fintech sector. The investment highlights the growing interest in innovative payment solutions within the African tech landscape and underscores HoneyCoin’s potential to revolutionize financial transactions.
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