Technology
HoneyCoin Raises $4.9m to Boost Payment Orchestration Infrastructure
By Adedapo Adesanya
Payment orchestration platform, HoneyCoin, has announced a $4.9 million funding round led by the global venture firm, Flourish Ventures, to boost its operations.
Flourish is joined by a dynamic mix of regional and global investors, including Visa Ventures, TLcom Capital, Stellar Development Foundation, Lava, Musha Ventures, 4DX Ventures, and Antler.
According to a statement, the new capital will accelerate the scale of operations, expand its product suite, and bring on new senior hires to strengthen its position as a prominent player in the payments industry.
Mr David Nandwa, who became one of Africa’s youngest fintech CEOs at the age of 19, launched HoneyCoin in 2020, during the pandemic.
With HoneyCoin, he and his team have set out to develop the financial operating system for a hybrid future, where fiat and blockchain infrastructure merge to enable faster, compliant, and cost-efficient cross-border money movement.
Since its launch, the platform claims it has scaled rapidly, processing hundreds of dollars in transactions to over $150 million in monthly transaction volume, serving more than 350 enterprise customers and hundreds of thousands of consumers through its flagship consumer app, Peer. Collectively, it powers payments for millions of end-users across four continents.
Mr Nandwa said, “Our mission is to build the operating system for money, how it’s moved, held, and collected, regardless of medium or geography.
“Just as Apple redefined computing and Visa transformed global commerce, we believe financial infrastructure is undergoing another once-in-a-generation shift.
“This raise enables us to lead that transformation, across Africa and other global markets, by building resilient, interoperable infrastructure for the future of finance.”
HoneyCoin says it addresses long-standing inefficiencies in global financial infrastructure, particularly for businesses in frontier markets, by providing a unified, stablecoin-compatible platform for collections, treasury management, settlements, and FX management.
By building a stablecoin-based liquidity engine and bypassing fragmented rails, HoneyCoin offers businesses instant or same-day settlements, compared to the traditional 4–7 business day timelines.
Flourish Ventures, which first backed HoneyCoin in 2021, co-led the latest fundraise as a follow-on investment, signaling strong confidence in the startup and underscoring its long-term commitment to building fairer financial systems across Africa.
Speaking on the investment, Flourish Ventures Principal, Mr 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.”
Operational in over 45 countries and PCI-DSS Level 1 certified, HoneyCoin allows businesses to collect and disburse mobile money, card, and bank payments across 15 African markets, as well as in the US, Canada, Europe, and the UK. Its FXHub enables customers to buy and sell up to 49 currencies at competitive rates, giving CFOs and finance teams the tools for seamless global treasury management backed by real-time data.
Licensed across key markets including the US, Canada, EU, and key African jurisdictions, HoneyCoin has built direct integrations with banks and telecom operators, including partnerships with MoneyGram, UBA Bank, and Stripe. Its platform is already being used by high-growth businesses and fintechs, including Cedar Money, TerraPay, and Jiji, underlining the platform’s increasing adoption across industries.
Technology
Leticia Otomewo Becomes Secure Electronic Technology’s Acting Secretary
By Aduragbemi Omiyale
One of the players in the Nigerian gaming industry, Secure Electronic Technology (SET) Plc, has appointed Ms Leticia Otomewo as its acting secretary.
This followed the expiration of the company’s service contract with the former occupier of the seat, Ms Irene Attoe, on January 31, 2026.
A statement to the Nigerian Exchange (NGX) Limited on Thursday said Ms Otomewo would remain the organisation’s scribe in an acting capacity, pending the ratification and appointment of a substantive company secretary at the next board meeting.
She was described in the notice signed by the Managing Director of the firm, Mr Oyeyemi Olusoji, as “a results-driven executive with 22 years of experience in driving business growth, leading high-performing teams, and delivering innovative solutions.”
The acting secretary is also said to be “a collaborative leader with a passion for mentoring and developing talent.”
“The company assures the investing public that all Company Secretariat responsibilities and regulatory obligations will continue to be discharged in full compliance with the Companies and Allied Matters Act, applicable regulations, and the Nigerian Exchange Limited Listing Rules,” the disclosure assured.
Meanwhile, the board thanked Ms Attoe “for professionalism and contributions to the Company during the period of her engagement and wishes her well in her future endeavours.”
Technology
Russia Blocks WhatsApp Messaging Service
By Adedapo Adesanya
The Russian government on Thursday confirmed it has blocked the WhatsApp messaging service, as it moves to further control information flow in the country.
It urged Russians to use a new state-backed platform called Max instead of the Meta-owned service.
WhatsApp issued a statement earlier saying Russia had attempted to “fully block” its messaging service in the country to force people toward Max, which it described as a “surveillance app.”
“Today the Russian government attempted to fully block WhatsApp in an effort to drive people to a state-owned surveillance app,” WhatsApp posted on social media platform X.
“Trying to isolate over 100 million users from private and secure communication is a backwards step and can only lead to less safety for people in Russia,” it said, adding: “We continue to do everything we can to keep users connected.”
Russia’s latest move against social media platforms and messaging services like WhatsApp, Signal and Telegram comes amid a wider attempt to drive users toward domestic and more easily controlled and monitored services, such as Max.
Russia’s telecoms watchdog, Roskomnadzor, has accused messaging apps Telegram and WhatsApp of failing to comply with Russian legislation requiring companies to store Russian users’ data inside the country, and of failing to introduce measures to stop their platforms from being used for allegedly criminal or terrorist purposes.
It has used this as a basis for slowing down or blocking their operations, with restrictions coming into force since last year.
For Telegram, it may be next, but so far the Russian government has been admittedly slowing down its operations “due to the fact that the company isn’t complying with the requirements of Russian legislation.”
The chat service, founded by Russian developers but headquartered in Dubai, has been a principal target for Roskomnadzor’s scrutiny and increasing restrictions, with users reporting sluggish performance on the app since January.
Technology
Nigerian AI Startup Decide Ranks Fourth Globally for Spreadsheet Accuracy
By Adedapo Adesanya
Nigerian startup, Decide, has emerged as the fourth most accurate Artificial Intelligence (AI) agent for spreadsheet tasks globally, according to results from SpreadsheetBench, a widely referenced benchmark for evaluating AI performance on real-world spreadsheet problems.
According to the founder, Mr Abiodun Adetona, the ranking places Decide alongside well-funded global AI startups, including Microsoft, OpenAI, and Anthropic.
Mr Adetona, an ex-Flutterwave developer, also revealed that Decide now has over 3,000 users, including some who are paying customers, a signal to the ability of the startup to scale in the near future.
SpreadsheetBench is a comprehensive evaluation framework designed to push Large Language Models (LLMs) to their limits in understanding and manipulating spreadsheet data. While many benchmarks focus on simple table QA, SpreadsheetBench treats a spreadsheet as a complex ecosystem involving spatial layouts, formulas, and multi-step reasoning. So far, only three agents rank higher than Decide, namely Nobie Agent, Shortcut.ai, and Qingqiu Agent.
Mr Adetona said SpreadsheetBench measures how well AI agents can handle practical spreadsheet tasks such as writing formulas, cleaning messy data, working across multiple sheets, and reasoning through complex Excel workflows. Decide recorded an 82.5% accuracy score, solving 330 out of 400 verified tasks.
“The result reflects sustained investment in applied research, product iteration, and learning from real-world spreadsheet workloads across a wide range of use cases,” Mr Adetona told Business Post.
For Mr Adetona, who built Decide out of frustration with how much time professionals spend manually cleaning data, debugging formulas, and moving between sheets, “This milestone highlights how focused engineering and domain-specific AI development can deliver frontier-level performance outside of large research organisations. By concentrating on practical business data problems and building systems grounded in real user environments, we believe smaller teams can contribute meaningfully to advancing applied AI.”
“For Decide, this is a foundation for continued progress in intelligent spreadsheet and analytics automation,” he added.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn










