African fintech HoneyCoin has raised $4.9 million in a seed round led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
The funding will accelerate HoneyCoin’s expansion, enhance its product suite, and strengthen its leadership team as it pushes to become a leading force in global payment infrastructure.
Founded in 2020 by David Nandwa—who became one of Africa’s youngest fintech CEOs at just 19—HoneyCoin offers a full-stack, stablecoin-compatible payment orchestration platform.
The company aims to merge fiat and blockchain infrastructure, enabling faster, compliant, and cost-efficient cross-border transactions.
In just five years, the platform has scaled from processing hundreds of dollars to over $$150 million in monthly transaction volume, serving more than 350 enterprise customers and millions of end-users across four continents.
“Our mission is to build the operating system for money—how it’s moved, held, and collected—regardless of medium or geography,” said Nandwa. “This raise enables us to lead that transformation by building resilient, interoperable infrastructure for the future of finance.”
HoneyCoin’s unified platform tackles long-standing inefficiencies in global finance, particularly in frontier markets, by enabling instant or same-day settlements compared to traditional timelines of four to seven business days.
Its offerings span collections, treasury management, settlements, and foreign exchange via a stablecoin-based liquidity engine.
Flourish Ventures, an early backer of HoneyCoin since 2021, reaffirmed its confidence with this follow-on investment.
“Since we first invested, David has built a licensed, profitable, and high-growth platform powering nearly 300 financial institutions and processing billions annually,” said Efayomi Carr, Principal at Flourish Ventures.
“We believe HoneyCoin is poised to lead the next generation of compliant, blockchain-enabled finance across Africa.”
Operational in more than 45 countries and PCI-DSS Level 1 certified, HoneyCoin supports mobile money, card, and bank payments in 15 African markets, as well as in the US, Canada, Europe, and the UK.
Its FXHub enables businesses to manage up to 49 currencies in real time. The company has secured licenses in key African and global jurisdictions and forged partnerships with institutions such as MoneyGram, UBA Bank, and Stripe.
With the new capital, HoneyCoin will expand its licensing and compliance footprint, grow its team, and refine its API-first suite for developers, payment service providers, and enterprises seeking stablecoin settlement rails and FX liquidity.
“HoneyCoin is tackling real-world challenges in cross-border payments and financial access,” said Cuy Sheffield, Visa’s Head of Crypto. “It’s a strong example of how stablecoins can deliver efficient and inclusive payment solutions in emerging markets.”
