HoneyCoin has successfully raised $4.9 million in a seed funding round aimed at scaling its stablecoin platform operations and enhancing its product offerings.
Currently, HoneyCoin processes over $150 million in monthly transaction volume, catering to more than 350 enterprise clients, and hundreds of thousands of consumers across 45+ countries.
The company also holds PCI-DSS Level 1 certification, ensuring robust security standards.
The funding was led by Flourish Ventures, with participation from prominent investors such as Stellar Development Foundation, 4DX Ventures, and more.
Flourish Ventures Principal Efayomi Carr expressed:
Since 2021, David’s built a licensed, profitable, high-growth infrastructure platform processing billions in transactions annually. We see HoneyCoin as a leader in the next generation of compliant, blockchain-enabled finance in Africa.
The startup tackles the traditional long settlement periods typically measured in T+3 or frequently longer time spans, and accepts a variety of modern payment methods running across Western and 15 African countries.
