African fintech startup HoneyCoin raised $4.9 million in seed funding led by Flourish Ventures, with Visa, TLcom Capital, and Stellar Development Foundation participating.
The investment will accelerate growth of its stablecoin-powered payment infrastructure, which slashes cross-border settlement times from days to hours.
Founded in 2020 by 19-year-old David Nandwa, HoneyCoin processes $150 million monthly for over 350 enterprises across 45+ countries. Its platform merges fiat and blockchain rails, enabling instant treasury management and FX operations for businesses in frontier markets. Nandwa now among Africa’s youngest fintech CEOs calls it “the operating system for money’s movement.”
The technology addresses costly delays in traditional finance: While legacy systems take 4–7 days for settlements, HoneyCoin’s stablecoin engine enables same-day processing. Its PCI-DSS certified platform supports mobile money, cards, and bank payouts in 15 African markets plus the US, UK, Canada, and EU. Partners include MoneyGram, UBA Bank, and Stripe.
Flourish Ventures principal Efayomi Carr highlighted HoneyCoin’s “licensed, profitable track record,” noting its service to nearly 300 financial institutions. Visa’s crypto head Cuy Sheffield added: “Stablecoins unlock efficient payments in emerging markets—this is proof.”
New funds will expand licensing, compliance capabilities, and API tools for developers seeking stablecoin settlement access.
