HoneyCoin, a leading global payment orchestration platform, has announced a $4.9 million funding round aimed at scaling operations and broadening its product offerings. The round was led by Flourish Ventures, a global venture firm, and saw participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. The investment marks a significant milestone in HoneyCoin’s mission to revolutionize cross-border payments and bridge fiat and blockchain infrastructure.
Company Vision and Leadership
Founded in 2020 by David Nandwa at just 19 years old, HoneyCoin emerged during the pandemic as a bold entrant into the fintech space. Nandwa, already a serial entrepreneur with notable exits, has built a reputation as one of Africa’s most skilled blockchain engineers. Under his leadership, the company aims to create the financial operating system for a hybrid future where traditional and blockchain-based systems operate seamlessly.
Rapid Growth and Market Reach
Since its inception, HoneyCoin has grown from processing modest transaction volumes to handling over $150 million monthly. The platform now serves more than 350 enterprise clients and hundreds of thousands of individual users through its flagship consumer app, Peer. Its infrastructure powers payments for millions across four continents, making it a rising force in the global payments industry.
Investor Confidence and Strategic Backing
Flourish Ventures, an early backer since 2021, co-led this round as a follow-on investment, signaling continued confidence in HoneyCoin’s trajectory. Efayomi Carr, Principal at Flourish Ventures, praised the company’s transformation into a licensed, profitable, and high-growth infrastructure provider. Other investors, including Visa Ventures, highlighted HoneyCoin’s role in demonstrating the potential of stablecoins to improve payment efficiency and inclusion in emerging markets.
Innovative Infrastructure for Frontier Markets
HoneyCoin addresses inefficiencies in traditional global financial systems, especially in frontier markets. By integrating stablecoin-compatible solutions for collections, treasury management, settlements, and foreign exchange, the platform enables faster and more cost-effective money movement. Its stablecoin-based liquidity engine allows businesses to bypass slow, fragmented rails, reducing settlement times from up to a week to same-day transactions.
Expanding Global Footprint
Currently operational in over 45 countries, HoneyCoin holds licenses in the US, Canada, the EU, and multiple African jurisdictions. It is PCI-DSS Level 1 certified and has direct integrations with banks and telecom operators, including UBA Bank, MoneyGram, and Stripe. The platform supports payment collections and disbursements across 15 African markets as well as North America, Europe, and the UK.
Product Innovation and Client Adoption
HoneyCoin’s FXHub service enables customers to trade up to 49 currencies at competitive rates, giving finance teams powerful treasury management tools with real-time insights. Its API-first approach allows developers, payment service providers, and enterprises to integrate stablecoin settlement rails and foreign exchange liquidity into their systems. High-growth clients such as Cedar Money, TerraPay, and Jiji underscore the platform’s expanding industry adoption.
Strategic Use of New Capital
The newly secured funding will fuel expansion of HoneyCoin’s senior leadership team, boost licensing and compliance capabilities, and further develop its product suite. By focusing on resilient, interoperable infrastructure, the company seeks to lead the global transition toward compliant, blockchain-enabled finance. This growth strategy aligns with Nandwa’s vision of building the “operating system for money” that transcends geography and medium.
With strong investor backing, rapid adoption, and a clear vision, HoneyCoin is positioning itself at the forefront of the next generation of financial infrastructure. Its blend of fiat and blockchain capabilities offers businesses faster, more reliable, and compliant payment solutions across borders. As the company accelerates its global reach, it stands as a notable example of how African-born fintech innovation can redefine financial systems worldwide.