Kenyan Fintech HoneyCoin Raises $4.9 Million to Revolutionize Cross-Border Payments
HoneyCoin, the Nairobi-based fintech innovator, has successfully closed a $4.9 million seed funding round, paving the way for the expansion of its stablecoin-powered payment infrastructure.
wThe round was spearheaded by Flourish Ventures and saw strategic participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. This investment will support the company’s aggressive push into regions spanning Mozambique, Zambia, Rwanda, Francophone Africa, Latin America, and parts of Asia.
Scaling Blockchain-Based Payments to Serve Emerging Economies
Founded in 2020 by David Nandwa, HoneyCoin has engineered an infrastructure that enables rapid, low-cost cross-border payments. Leveraging stablecoins, its platform integrates with banks, mobile money networks, and global payment providers to settle transactions in mere hours instead of days. With 15 African countries currently onboard, and certifications secured in major markets including the U.S., Europe, Canada, Nigeria, Kenya, and Tanzania, HoneyCoin has built a robust regulatory and operational foundation.
The company now processes approximately $150 million in transactions each month, serving 350 enterprise clients and over 326,000 consumers via its consumer app, Peer. Impressively, it has maintained profitability for two consecutive years, with most revenue generated through B2B settlement and API-based acquiring services—some corporate clients pay up to $2,500 monthly for integration.
Fuelled by its proprietary AI-powered matching engine and a co-location network of partner banks, HoneyCoin delivers near-instantaneous and same-day settlements. These capabilities enable it to target Africa’s sprawling $329 billion cross-border payments market and compete with both global and regional fintech firms.
The freshly secured capital is earmarked for senior executive hires, advanced product development, and licensing efforts. Key upcoming products slated for Q3 2025 include a Visa-backed stablecoin debit card, a cross-border liquidity offering with Interswitch, a Banking-as-a-Service suite for Ghana, Malawi, and Tanzania, and a point-of-sale software solution tailored for East African merchants.
With consistent monthly B2B transaction growth of 16% and consumer usage rising 5% monthly, HoneyCoin is rapidly solidifying its position as a leading infrastructure provider for digital payments—potentially setting new standards for how money moves across borders in emerging economies.