Kenya: Flourish Ventures, TLCom Capital, others back HoneyCoin
HoneyCoin, a Kenyan fintech company, has closed a $4.9 million funding round led by Flourish Ventures.
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HoneyCoin, a Kenyan fintech company providing stablecoin-powered cross-border payment solutions, has closed a $4.9 million funding round led by Flourish Ventures with participation from Visa Ventures, Lava, TLCom Capital, Antler, Musha Ventures, 4DX Ventures, Stellar Development Foundation, and others.
The startup was founded by David Nandwa.
Flourish Ventures principal, Efayomi Carr said: “We first backed HoneyCoin in 2021 based on David’s technical expertise and regulatory vision. Since then, he’s built a licensed, profitable, and high-growth infrastructure platform powering nearly 300 financial institutions and processing billions in transactions annually. This follow-on investment reflects our deep confidence in HoneyCoin’s results to date and potential to lead the next generation of compliant, blockchain-enabled finance across Africa.”
“HoneyCoin is tackling real-world challenges in cross-border payments and financial access across Africa,” said Cuy Sheffield, head of Crypto at Visa. “It’s a strong example of how stablecoins can unlock more efficient and inclusive payment solutions in emerging markets.”
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