According to PANews, Kenyan Web3 payment platform HoneyCoin has announced the completion of a $4.9 million funding round led by Flourish Ventures. The funds are earmarked for scaling operations, expanding product offerings, and hiring senior executives.
Founded by David Nandwa in 2020 at the age of 19, HoneyCoin has grown significantly, with a monthly transaction volume exceeding $150 million. The platform serves 350 business clients and hundreds of thousands of users. HoneyCoin facilitates instant or same-day settlements through a stablecoin-compatible platform, supporting operations in 45 countries. It has established partnerships with organizations such as MoneyGram, UBA Bank, and Stripe.
The recent funding will aid HoneyCoin in further expanding its team and enhancing its compliance framework.