HoneyCoin Bags $4.9M to Scale Its Financial Infrastructure Platform

David Nandwa

Kenya’s HoneyCoin, a transformative global payment orchestration platform, has raised US$4.9 million in funding to help it scale operations, expand its product suite, and bring on new senior hires to strengthen its position as a prominent player in the payments industry.

Founded by David Nandwa in 2020, HoneyCoin is a full-stack financial orchestration platform for consumers and businesses, providing infrastructure that allows its customers to collect payments, move money in real-time using stablecoins and traditional rails, as well as issue bank accounts, debit cards, or wallets in over 45 markets and across four continents.

Since its launch, the platform has scaled rapidly, processing hundreds of dollars in transactions to over US$150 million in monthly transaction volume, serving more than 350 enterprise customers and hundreds of thousands of consumers through its flagship consumer app, Peer. Collectively, it powers payments for millions of end-users across four continents.

HoneyCoin is now set for further growth after securing US$4.9 million in funding in a round led by global venture firm Flourish Ventures, and also featuring Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. The funding will help HoneyCoin help scale operations, expand its product suite, and bring on new senior hires.

“Our mission is to build the operating system for money, how it’s moved, held, and collected, regardless of medium or geography. Just as Apple redefined computing and Visa transformed global commerce, we believe financial infrastructure is undergoing another once-in-a-generation shift. This raise enables us to lead that transformation, across Africa and other global markets, by building resilient, interoperable infrastructure for the future of finance,” said Nandwa.

Source: Disrupt Africa