HoneyCoin, a payment orchestration platform, has raised $4.9 million in a funding round led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
The new capital will accelerate HoneyCoin’s operations, expand its API-first product suite, and attract senior hires to solidify its position as a leading player in the payments industry.
Founded in 2020 by David Nandwa—who became one of Africa’s youngest fintech CEOs at just 19—the company has grown from processing hundreds of dollars in transactions to $150 million in monthly volume, serving over 350 enterprise customers and millions of end-users across four continents.
HoneyCoin provides a stablecoin-compatible platform for collections, settlements, treasury, and FX management, enabling instant or same-day settlements compared to the traditional 4–7 business days. Its infrastructure integrates with banks and telecom operators, with notable partnerships including MoneyGram, UBA Bank, and Stripe.
Licensed in key markets across Africa, North America, and Europe, the company powers payments in more than 45 countries and supports 49 currencies via its FXHub. Clients include Cedar Money, TerraPay, and Jiji.
Flourish Ventures, an early investor since 2021, reaffirmed its confidence in HoneyCoin’s growth, with Principal Efayomi Carr stating, “This follow-on investment reflects our deep confidence in HoneyCoin’s results and potential to lead the next generation of compliant, blockchain-enabled finance across Africa.”
Visa’s Head of Crypto, Cuy Sheffield, added, “HoneyCoin is tackling real-world challenges in cross-border payments and financial access across Africa. It’s a strong example of how stablecoins can unlock more efficient and inclusive payment solutions in emerging markets.”
