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Daya, a Nigerian startup building stablecoin-powered payment infrastructure for African businesses, has raised a $2.4 million pre-seed round to expand its cross-border payments network and deepen its stablecoin-based financial services.
Hivemind Capital, a New York-based digital asset investment firm, led the round with participation from Lattice Fund, a crypto-focused venture capital firm; Alliance DAO, a New York-based crypto accelerator; Aptos Foundation, an independent entity that supports the US-based Aptos blockchain network by issuing builder grants and developer resources; and Globelink Investment, a Singapore-based investment company.
“The round was oversubscribed,” Tomiwa “Aleph” Lasebikan, Daya’s co-founder, told TechCabal. “Right now, we’re heads down focused on building and shipping for our users and delivering on the promises we made to our investors and early backers.”
https://t.co/Z3fxeV9nRd
@alephile and I will be at the EU-Nigeria Business forum today, where @alephile will be speaking about what we are building @Daya_HQ, if you are there, come say hi.
The bet behind Daya’s $2.4M raise: in cross-border payments, owning the software may matter more than owning the rails.
“The winners in this market will not just own the payment rails; they will own the workflows,” says co-founder Paul Joe.
https://t.co/zGdGU3p4IT
Very excited for @HivemindCap to lead @Daya_HQ 's $2.4M pre-seed round! Daya is a B2B stablecoin neobank that enables local African businesses to access the global dollar economy via virtual USD bank accounts, instant global payments, and payment cards.
The ‘digital dollarization’ narrative has largely focused on Latam and SE Asia to date, often overlooking the African market. Yet, African B2B cross-border payments are a massive $500B market with $45B in fees (avg 9% vs 6% globally). Due to insufficient local banking rails, Africa has *the fastest rate of fintech and crypto adoption in the world.* Crypto adoption has 25x-ed in the last 5 yrs.
African fintech represents the ultimate leapfrog opportunity: a region with a young, digitally-native, and largely unbanked population that’s actively bypassing legacy infrastructure to adopt borderless, stablecoin-first financial services at record speed. Just as smartphones enabled Africa to leapfrog into mobile internet connectivity over the last 10-15 years, stablecoins are now powering a similar jump into modern, borderless financial services at a faster rate than the rest of the world.
Why Daya? The founding team are Nigerian natives who previously built Helicarrier, one of the country's first crypto remittance platforms. Local domain expertise, deep crypto/fintech fluency, and a regulatory-first approach under a licensing regime that favors local builders over global incumbents. Daya’s strong early traction reflects their understanding of the needs of the local businesses they’re serving.
My full thesis here: https://t.co/A3vE5B8Yww
Congrats to @alephile@0xPeejay and the @Daya_HQ team!
Africa’s businesses are going global. Their money should, too.
We’re building stablecoin-powered payments, FX, and treasury for the next generation of African companies.
I am excited to be building Daya alongside @alephile and our awesome team.
We raised $2.4M to build the financial operating layer for Africans moving money across borders. Collect locally. Convert smartly. Settle globally.
If you run a business, pay suppliers, work as a freelancer, receive international payments, or move money between countries, you often still face workflows that feel too manual, brittle and expensive. Daya is here to serve you.