Kenyan Web3 Payment Platform HoneyCoin Raises $4.9 Million in Funding, Led by Flourish Ventures

BlockBeats News, August 13th, according to BitKE, Kenya's Web3 payment platform HoneyCoin announced the completion of a $4.9 million financing round, led by Flourish Ventures. The funds will be used to expand operations, enhance product lines, and onboard senior executives. HoneyCoin's founder, David Nandwa, established the company at the age of 19 in 2020. The platform's monthly transaction volume has now exceeded $1.5 billion, serving 350 corporate clients and hundreds of thousands of users.

HoneyCoin achieves instant or same-day settlement through a stablecoin-compatible platform, supporting business in 45 countries. It has established partnerships with institutions such as MoneyGram, UBA Bank, and Stripe. This financing round will help further expand its team and regulatory compliance efforts.