Kenya’s HoneyCoin Raises $4.9m in Funding to Transform Stablecoin-powered Payments

Kenya’s HoneyCoin raises $4.9 million to change the way people make payments around the world. This money will let HoneyCoin hire more people, add new features, and reach more countries, especially in Africa and other parts of the world.

HoneyCoin started in 2020, founded by a young entrepreneur named David Nandwa. The company created a platform that helps both businesses and everyday people send and receive money quickly and easily. What makes HoneyCoin special is that it uses a mix of traditional bank methods and stablecoins, these are digital coins designed to keep their value steady, unlike other cryptocurrencies which can be jumpy. HoneyCoin also offers bank accounts, debit cards, and digital wallets in more than 45 countries across four continents.

Since they began, HoneyCoin has grown fast. The platform now handles more than $150 million every month and serves around 350 business customers along with hundreds of thousands of everyday users through their app called Peer. Together, these users make millions of payments every month.

Kenya’s HoneyCoin raises $4.9m in funding

The new funding round was led by Flourish Ventures, a big investment firm, and included other well-known backers like Visa Ventures and Stellar Development Foundation. With this support, HoneyCoin plans to expand its reach by getting new licenses in countries such as Mozambique, Zambia, Rwanda, and parts of French-speaking Africa.

David Nandwa, the CEO, said their goal is to build the “operating system for money.” He wants to make moving and using money as easy and fast as using a smartphone. He believes HoneyCoin can do for money what Apple did for computers and what Visa did for global payments — change the world. He says now is a special time when financial technology is changing a lot, and HoneyCoin wants to lead that change.

One big problem HoneyCoin solves is making it easier and cheaper to send money across countries. Usually, sending money between countries takes days and costs a lot, especially in developing markets. HoneyCoin’s system gives businesses fast payments—often instantly or the same day—using stablecoins combined with local bank and mobile money networks. This speeds everything up and cuts costs.

Besides sending and receiving money, HoneyCoin also helps with managing cash, handling foreign currency exchanges, and settling payments. Their platform supports many payment options like mobile money, debit and credit cards, and bank transfers. Plus, their system is very secure, meeting top global industry standards.

HoneyCoin works with many growing businesses and fintech companies, including Cedar Money and TerraPay. It also partners with big names like MoneyGram, UBA Bank, and Stripe to make sending and receiving money smoother for users everywhere.

With this $4.9 million boost, HoneyCoin is also planning to launch new products. These include a debit card linked to a Visa-backed stablecoin, a special service to help businesses manage money across borders with Interswitch, and a banking service designed for countries like Ghana, Malawi, and Tanzania.

HoneyCoin has already been making a profit for the last two years. Its business customer transactions keep growing by about 16% every month, and their consumer app Peer is also gaining new users steadily.

Investors like Flourish Ventures are confident in the company’s leadership and technology. They say HoneyCoin is already helping nearly 300 financial institutions process billions of dollars every year and that it has a strong future in building better, more reliable payment systems in Africa.

This fresh $4.9 million investment will help Kenya’s HoneyCoin make payments faster, cheaper, and easier for millions of people worldwide, using stablecoins and smart digital tools. It’s an important step toward changing the way money moves in emerging markets and beyond.

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