Kenya’s HoneyCoin, a fast-growing global payment orchestration platform, has raised US$4.9 million to expand its operations, enhance its product offering, and bring on top-tier leadership as it cements its status in the competitive global payments industry.
Founded in 2020 by David Nandwa, HoneyCoin provides infrastructure that enables consumers and businesses to collect payments, move money instantly via stablecoins and traditional payment rails, and issue bank accounts, debit cards, or wallets in more than 45 markets across four continents.
The company’s monthly transaction volume has surged to over US$150 million, serving 350+ enterprise clients and hundreds of thousands of consumers through its flagship app, Peer.
“Our mission is to build the operating system for money, how it’s moved, held, and collected, regardless of medium or geography,” said Nandwa.
“This raise enables us to lead that transformation across Africa and other global markets by building resilient, interoperable infrastructure for the future of finance.”
Hiring Top Talent
Part of the fresh capital will go into attracting experienced executives and engineers to strengthen HoneyCoin’s leadership bench.
Nandwa emphasised that the company’s growth trajectory requires “visionaries who can execute on a global scale,” noting that building world-class financial infrastructure demands not only technology but also strong operational leadership.
Scaling Operations Across Africa and Beyond
HoneyCoin’s infrastructure already spans Africa, North America, Asia, and Europe, with the new funding earmarked for deeper penetration into African markets while also scaling to additional high-growth regions.
With financial ecosystems in Africa increasingly embracing cross-border trade and digital payments, the company aims to position itself as a default infrastructure layer for fintechs, banks, and enterprises.
Adding More Features to the Platform
The firm plans to expand its suite of services, including more seamless integrations for enterprise customers, enhanced crypto-to-fiat transaction capabilities, and new API-based offerings.
These upgrades will allow customers to “plug into HoneyCoin and immediately operate like a global bank,” as the founder puts it.
Impact and Achievements of HoneyCoin
Since its launch, HoneyCoin has processed hundreds of millions in transactions, growing from “hundreds of dollars” in its early days to US$150 million monthly.
It now powers payments for millions of end-users globally, reflecting both the scalability of its technology and the demand for interoperable financial infrastructure in emerging and developed markets alike.
Why It Matters
Africa’s payments ecosystem is undergoing rapid transformation, with cross-border transactions often hampered by high fees and fragmented systems.
HoneyCoin’s approach, bridging traditional banking systems with blockchain technology, could offer a blueprint for cost-effective, real-time financial connectivity.
By attracting heavyweight investors like Visa Ventures, TLcom Capital, and the Stellar Development Foundation, the company displays not only investor confidence in African fintech, but also a growing recognition that the continent could lead the next phase of global payments innovation.
Talking Points
HoneyCoin’s $4.9 million funding marks a pivotal moment for African fintech, addressing investor confidence in platforms that blend traditional banking with blockchain-powered payments.
In just four years, the Kenyan startup has scaled to $150 million in monthly transactions across 45 markets, serving 350+ enterprises and millions of end-users.
The fresh capital positions it to expand features, attract top talent, and navigate the complex regulatory demands of multi-continent operations.
Its challenge will be balancing rapid growth with compliance, security, and reliability.
However, if successful, HoneyCoin could emerge as a global benchmark for interoperable financial infrastructure originating from Africa.
