HoneyCoin announces a $4.9 million funding round led by Flourish Ventures, with participation from Visa Ventures, Stellar Development Foundation, and others. The company, a full-stack payment orchestration platform using stablecoins and traditional rails, processes over $150M monthly across 45+ countries. Founded during COVID, it has achieved product-market fit serving millions of users in emerging markets, especially Africa.
HoneyCoin's founder David Nandwa shares the excitement of closing a $4.9M funding round led by Flourish Ventures, with key investors including Visa Ventures, Lava, TLCom, Antler, Musha Ventures, 4DX Ventures, Stellar Development Foundation, and notable angels. Starting 4 years ago during COVID lockdowns, HoneyCoin began as a platform for creators and freelancers in Africa, akin to 'Gumroad with fiat and stablecoins,' before pivoting to a consumer app that quickly hit product-market fit with six-figure monthly volumes by late 2021. Despite challenges like frozen funds, fraud attempts, and payment pauses, the platform scaled rapidly, now processing $150M+ monthly, serving millions of users in 45+ countries across four continents. Licensed in key markets like the US, Canada, EU, and Africa, it integrates with banks, telecoms, MoneyGram, UBA, and Stripe, powering businesses like Cedar Money, TerraPay, and Jiji. Quotes from Visa's Cuy Sheffield and Flourish's Efayomi Carr highlight its role in cross-border payments and blockchain-enabled finance in emerging markets. David, now 24, reflects on his 15-year coding journey and gratitude to his team, family, investors, and customers.
