Kenya's Web3 payment platform HoneyCoin raises $4.9 million in funding, led by Flourish Ventures

According to BitKE, Kenya's Web3 payment platform HoneyCoin announced the completion of a $4.9 million funding round, led by Flourish Ventures, which will be used to expand operations, enrich product lines, and bring in executives. HoneyCoin founder David Nandwa founded the company at the age of 19 in 2020. Currently, the platform's monthly transaction volume has exceeded $150 million, serving 350 enterprise clients and hundreds of thousands of users. HoneyCoin achieves instant or same day settlement through a stablecoin compatible platform, supports business in 45 countries, and has established partnerships with institutions such as MoneyGram, UBA Bank, Stripe, etc. This financing will help it further expand its team and compliance layout.