HoneyCoin Secures $4.9 Million to Expand Stablecoin Payment Solutions

HoneyCoin, a payment orchestration platform leveraging stablecoin technology, has successfully raised $4.9 million in a seed funding round aimed at scaling its operations and enhancing its product offerings, according to Tech Labari.

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.

“Since 2021, David’s built a licensed, profitable, high-growth infrastructure platform processing billions in transactions annually,” remarked Efayomi Carr, Principal at Flourish Ventures. “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.

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Source(s): https://techlabari.com/honeycoin-raises-4-9m-to-scale-stablecoin-powered-payments-across-africa-and-beyond/