HoneyCoin Raises $4.9M to Expand Web3 Payments and Scale Globally
HoneyCoin, a Kenyan Web3 payment platform founded in 2020 by David Nandwa, has secured $4.9 million in a Series A funding round led by Flourish Ventures. The investment will help HoneyCoin expand its stablecoin-compatible payments network and enrich its product lineup. The firm plans to recruit senior executives and bolster regulatory compliance. HoneyCoin processes over $150 million in monthly transaction volume, serving more than 350 enterprise clients and hundreds of thousands of users across 45 countries. Partnerships with MoneyGram, UBA Bank, and Stripe enable instant or same-day payments. Its stablecoin infrastructure supports both settlement options. The new capital will drive HoneyCoin’s growth across African and global markets.
Bullish
The successful $4.9 million fundraising for HoneyCoin is a bullish signal for the stablecoin and Web3 payments sector. In the short term, this development may boost investor confidence in related infrastructure projects, enhancing the perceived value of stablecoin networks. Over the long term, expanded operations, senior hires, and stronger compliance could accelerate stablecoin adoption across Africa and beyond, driving sustained growth and stability in the crypto market. Increased transaction volume and partnerships with established financial players also suggest a maturing ecosystem that could attract further capital and participation.