HoneyCoin, a Nairobi-headquartered payment orchestration platform, has announced a $4.9 million seed round led by Flourish Ventures, with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler. The company says the capital will expand operations, grow its product suite, and fund senior hires as it positions for larger enterprise demand across Africa and beyond.
What HoneyCoin is building
Founded in 2020 by engineer David Nandwa, HoneyCoin describes itself as a financial operating system for a hybrid future where fiat and blockchain rails work together. Its stack covers collections, treasury, settlements, and FX, with a stablecoin-based liquidity engine that targets instant or same-day payouts, compared to traditional 4 to 7 business days. The company reports more than $150 million in monthly transaction volume, over 350 enterprise customers, and hundreds of thousands of consumers through its Peer app. It says it operates in 45 plus countries, holds PCI-DSS Level 1 certification, and has direct integrations with banks and telcos, including partnerships with MoneyGram, UBA Bank, and Stripe.
Why this matters
Cross-border payments in frontier markets remain fragmented and slow, which pushes businesses to juggle multiple providers and reconciliation workflows. Stablecoin settlement is emerging as a practical fix for timing and liquidity, especially when paired with mobile money and card acceptance. On Techish, we have covered adjacent moves: ViFi Labs acquiring OneRamp to scale compliant stablecoin payments for Africa and Latin America, a sign that orchestration around mobile money and stablecoins is getting competitive.
Visa’s activity in stablecoin and crypto-enabled payment flows on the continent has also accelerated, including a recent tie-up with Yellow Card focused on cross-border use cases. That context helps explain Visa Ventures’ interest in infrastructure players powering compliant settlement.
Investor lens and ecosystem context
Flourish Ventures first backed HoneyCoin in 2021 and returns as lead investor. The firm has been active around African fintech infrastructure and founder support, including its Madica initiative and participation in payments-focused rounds like Zone, which counts both Flourish and TLcom as backers. Those moves signal a thesis around regulated rails and modern settlement.
TLcom, another participant in HoneyCoin’s round, closed a $154 million early-stage Africa fund in 2024, repeatedly highlighting fintech infrastructure as a priority. This gives HoneyCoin access to a deep local investor network that understands regulatory navigation and enterprise sales in African markets.
How HoneyCoin says it differentiates
HoneyCoin positions its stablecoin-compatible platform as a way to bypass fragmented corridors while keeping compliance central. The company points to instant or same-day settlements, multi-currency treasury via its FXHub [up to 49 currencies], and direct bank, card, and mobile money integrations across 15 African markets, plus the US, Canada, Europe, and the UK. It lists customers and ecosystem partners that Techish readers will recognise, including TerraPay on the remittance side, which has featured in regional bank partnerships.
The bigger picture
Africa’s payment landscape continues to consolidate around network-level initiatives and interoperable rails. We have tracked PAPSS integrations aimed at faster intra-African transfers, and mobile-money-led cross-border services such as M-PESA’s Ethiopia corridor. HoneyCoin’s orchestration approach, if executed as described, slots into that direction of travel by abstracting complexity for PSPs and enterprises while offering treasury controls at FX level.
What to watch next
- Licensing and compliance scope. The company says it is licensed in key markets across North America, Europe, and Africa. Depth of approvals will shape enterprise adoption.
- Developer experience. HoneyCoin plans to keep evolving an API-first product for PSPs and enterprises. Integration speed and documentation quality will matter.
- Competitive pressure. From bank-led corridors to specialist stablecoin orchestrators, the field is heating up, with Visa and other networks deepening ties across providers. Related activity with VALR in South Africa points to multi-track strategies from global networks.
By the numbers [company-reported]
- $4.9 million seed round led by Flourish Ventures
- Over $150 million monthly transaction volume
- 350 plus enterprise customers, millions of end users across four continents
- Operational in 45 plus countries, PCI-DSS Level 1
- FXHub supporting up to 49 currencies
