Visa has participated in a $4.5 million Seed funding round for HoneyCoin, a payment orchestration platform compatible with stablecoins.
The round was led by Flourish Ventures, with participation from Visa, TLcom, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
Founded in 2020, HoneyCoin allows customers to collect payments and transfer money in real-time using both stablecoins and traditional payment methods. The platform offers services such as issuing bank accounts, debit cards, and wallets across more than 45 markets on four continents.
HoneyCoin processes over $150 million in monthly transaction volume and serves over 350 enterprise customers, alongside hundreds of thousands of consumers through its flagship app, Peer. Notable enterprise clients include Cedar Money, TerraPay, and Jiji.
David Nandwa, CEO and founder of HoneyCoin, stated: “Our mission is to build the operating system for money—how it’s moved, held, and collected, regardless of medium or geography. We believe financial infrastructure is undergoing a significant evolutionary shift.”
With licenses in multiple markets, including the US, Canada, the EU, and key African regions, HoneyCoin has established direct integrations with banks and telecom operators, partnering with MoneyGram, UBA Bank, and Stripe.
Nandwa mentioned that the new funds will support team expansion, enhance licensure and compliance functions, and further develop its API-first product suite for payment service providers and enterprises seeking compliant access to stablecoin settlement options and foreign exchange liquidity.