Daya, a fintech startup building financial infrastructure for African businesses, has secured $2.4 million in a pre-seed funding round. Led by Hivemind Capital, the investment will accelerate the company's mission to simplify cross-border payments and treasury management. The funding aims to address the high costs and complexities that have long hindered international commerce for companies operating across the continent.
Addressing a Fragmented Financial Landscape
For businesses in Africa, managing international transactions is often a cumbersome process defined by high fees and slow settlement times. Companies frequently rely on a fragmented ecosystem of banks, foreign exchange providers, and payment platforms to move money. This disjointed approach creates operational inefficiencies, increases costs, and offers little transparency into the status of transfers.
Daya offers a unified platform designed to consolidate these disparate financial operations into a single, streamlined system. Its flagship product, Daya Business, provides a central dashboard for companies to manage cash flow, convert currencies, and execute global payouts. This integrated solution eliminates the need for multiple providers, giving businesses greater control over their international treasury functions.
The Technology and Team Behind Daya
At its core, the platform leverages stablecoin rails and provides developers with a straightforward API to embed payment capabilities into their products. This allows fintechs and other platforms to integrate cross-border functionality with minimal coding, offering access to institutional-grade liquidity. The system is designed to provide competitive exchange rates while protecting margins from hidden fees common in traditional systems.
The company was founded in October 2025 by co-founders Tomiwa "Aleph" Lasebikan and Paul Joe, who bring extensive industry experience. Lasebikan previously co-founded the Y Combinator-backed crypto startup Helicarrier, where he identified the persistent need for better cross-border payment solutions. Joe's background includes roles at prominent firms such as Circle and Microsoft, adding deep expertise in financial infrastructure.
Strategic Funding and Market Opportunity
The $2.4 million pre-seed round was led by Hivemind Capital, with significant participation from Lattice Fund, Alliance, and the Aptos Foundation. This capital infusion is earmarked for key strategic areas, including further product development and enhancing compliance infrastructure. The company also plans to use the funds to establish new payment corridors and forge partnerships with financial institutions.
Daya is targeting the vast global B2B cross-border payments market, which was valued at $31.7 trillion in 2024. This market significantly outweighs consumer remittances and is projected to grow to nearly $48 trillion by 2032. Much of this activity still relies on outdated correspondent banking systems, presenting a substantial opportunity for modern, efficient solutions.
Navigating a Competitive and Evolving Market
The startup enters a competitive field where established players and other innovators are also working to modernize payments. Global giants like Visa and Mastercard are expanding their stablecoin settlement pilots, while Stripe has seen significant growth with its acquisition of Bridge. Within Africa, companies such as Yellow Card and Conduit are also building similar infrastructure for business-focused treasury flows.
Demonstrating its strategic focus, Daya recently announced a pilot corridor partnership with the Aptos Foundation and HashKey MENA. This initiative aims to establish a stablecoin-based payment channel connecting Africa and the UAE, a key trade route. The collaboration leverages regulated crypto infrastructure to address the compliance needs of businesses operating across these important jurisdictions.
With its new $2.4 million in funding, Daya is well-positioned to tackle the persistent challenges of cross-border commerce in Africa. The investment validates the company's approach of unifying payments, foreign exchange, and treasury management onto a single platform. As Daya expands its infrastructure, it has the potential to become a critical engine for businesses seeking efficient and transparent financial operations.