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HoneyCoin, a Nairobi-born payments orchestration platform, has secured $4.9 million in seed funding.
The round was led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
Founded in 2020 by David Nandwa, HoneyCoin offers an end-to-end financial infrastructure.
The platform enables real-time money movement through stablecoins and traditional banking systems. It also facilitates issuing bank accounts, debit cards, and wallets in over 45 markets across four continents.
The company processes more than US$150 million in transactions every month. It serves upwards of 350 enterprise clients and hundreds of thousands of users through its consumer app, Peer. In total, millions of end users rely on HoneyCoin’s services globally.
David Nandwa, the founder and CEO, commented on the funding’s impact: It will help build out the team, expand product offerings, and strengthen regulatory and compliance capabilities.
He added that HoneyCoin aims to be the “operating system for money.” He compared their ambition to Apple’s reinvention of computing and Visa’s reshaping of global commerce, calling the current era of financial infrastructure a once-in-a-generation shift.
HoneyCoin holds licenses in several regions, including the U.S., Canada, the EU, and key African countries.
It has direct partnerships with financial and telecom institutions such as MoneyGram, UBA, and Stripe.
The platform offers rapid settlement—often within minutes or instantly—compared to traditional systems like SWIFT, which can take days.
The European Investment Bank (EIB) and Bank of Kigali have joined forces to provide a €100 million financing package for agroecological projects in Rwanda.
Payday (Techstars ’21), one of Africa’s leading Pan-African neobank, has raised $3 million in seed funding to drive the future of work for the continent.
COREangels MEA, in collaboration with PTS Investments Holdings and the Arab Academy for Science, Technology and Maritime Transport (AAST), has introduced a $10 million investment fund aimed at supporting early-stage technology startups across the Middle East and Africa (MEA).
