HoneyCoin, a startup based in Nairobi, has announced securing $4.9 million in seed funding, aimed at enhancing cross-border payment services.
Investments and Company Goals
HoneyCoin has secured $4.9 million in funding led by Flourish Ventures, with participation from Visa, TLcom Capital, Stellar Development Foundation, and others. The investments are set to improve cross-border payments using stablecoin technology, making financial solutions faster and cheaper.
Benefits of Using Stablecoins
HoneyCoin provides a stablecoin-compatible platform that enables instant settlements and reduces transaction costs. The platform allows businesses to bypass traditional inefficiencies in global finance while ensuring compliance with regulatory standards.
Future of HoneyCoin and Its Founder
Founder David Nandwa plans to utilize the new capital to expand his team and enhance licensing functions. He envisions a bright future for his company in financial technology across Africa and beyond. Nandwa draws parallels between HoneyCoin and tech giants like Apple, emphasizing the importance of transforming financial infrastructure.
With the new funding, HoneyCoin aims to improve cross-border transactions in Africa and expand its operations to other regions while combining innovation and reliability.
