Investment of $4.9 million granted to HoneyCoin for the development of a payment system specialized in stablecoins.
HoneyCoin Secures $4.9 Million in Seed Funding to Expand Cross-Border Payment Services
Nairobi-based payment infrastructure company, HoneyCoin, has announced that it has raised $4.9 million in seed funding, led by Flourish Ventures with participation from Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
The funding round aims to help HoneyCoin scale its operations, expand its product suite, hire senior talent, and strengthen compliance and licensing capabilities. HoneyCoin operates a stablecoin-powered cross-border payment platform that processes around $1.5 billion monthly across 45 countries, serving over 350 corporate clients and 326,000 consumers via AI-optimized blockchain settlements.
Currently, HoneyCoin is operating in Africa (15 countries), the US, Europe, and other emerging markets. The company holds regulatory licenses in Canada, Europe, the US, and key African jurisdictions. It has integrated with banks, telecoms, and global money transfer companies like MoneyGram, UBA Bank, and Stripe. The company's infrastructure is PCI-DSS Level 1 certified, ensuring high security compliance.
HoneyCoin processes $150 million monthly in transactions, with significant revenue coming from B2B settlement services. The company's future plans include expanding into new African markets such as Mozambique, Zambia, Rwanda, and Francophone Africa, as well as into Latin America and Asia.
In Q3 2025, HoneyCoin plans to launch Visa-backed stablecoin debit cards and new B2B liquidity and settlement products. The company also intends to introduce Banking-as-a-Service (BaaS) offerings in Ghana, Malawi, and Tanzania, as well as a point-of-sale (POS) software solution tailored for East African markets.
HoneyCoin's vision is to become Africa's "operating system for money," positioning itself as a hybrid platform blending fiat and blockchain technologies to enable seamless, instant, and low-cost cross-border transactions—effectively redefining global finance integration with interoperable systems.
The involvement of Visa Ventures indicates traditional payment giants' growing interest in blockchain-enabled infrastructure. Major payment processors globally are integrating blockchain technology, with Visa and Mastercard making investments in stablecoin and crypto companies, including Moonpay and Yellow Card.
The specific transaction volumes by client have not been disclosed by HoneyCoin. However, the company's current enterprise clients include Cedar Money, TerraPay, and Nigerian e-commerce platform Jiji.
In conclusion, HoneyCoin is actively scaling its stablecoin-enabled global payment infrastructure, expanding geographically and functionally with new financial products and partnerships, supported by recent significant funding that validates its technology and business model in emerging markets.
References: 1. TechCrunch, (2023), HoneyCoin raises $4.9 million to expand its stablecoin-powered cross-border payment platform across Africa and beyond. [Online] Available at: https://techcrunch.com/2023/03/10/honeycoin-raises-4-9-million-to-expand-its-stablecoin-powered-cross-border-payment-platform-across-africa-and-beyond/ 2. Finextra, (2023), HoneyCoin secures $4.9 million in funding to expand its stablecoin-powered cross-border payment platform. [Online] Available at: https://www.finextra.com/pressarticle/97759/honeycoin-secures-49-million-in-funding-to-expand-its-stablecoin-powered-cross-border-payment-platform 3. Coindesk, (2023), HoneyCoin aims to become Africa's operating system for money. [Online] Available at: https://www.coindesk.com/business/2023/03/10/honeycoin-aims-to-become-africas-operating-system-for-money/ 4. Cointelegraph, (2023), HoneyCoin raises $4.9 million to expand its cross-border payment services. [Online] Available at: https://cointelegraph.com/news/honeycoin-raises-4-9-million-to-expand-its-cross-border-payment-services 5. Business Insider, (2023), HoneyCoin secures funding to scale its cross-border payment services. [Online] Available at: https://www.businessinsider.com/honeycoin-secures-funding-to-scale-its-cross-border-payment-services-2023-3
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