Daya, a startup focused on stablecoin powered payment infrastructure for African businesses, has secured 2.4 million dollars in pre seed funding to strengthen its cross border payment solutions and make international money transfers easier for companies across the continent.
The investment round was led by Hivemind Capital, with additional support from Lattice, Alliance, Globelink and the Aptos Foundation. The funding reflects increasing investor confidence in blockchain driven financial technology designed to improve payment systems in emerging markets.
Many African businesses that import goods, settle invoices with overseas suppliers or operate across several countries continue to face delays, high transaction costs and limited transparency. These challenges often arise because companies rely on multiple banks, foreign exchange providers and cryptocurrency platforms to complete international payments.
Daya is addressing these challenges by bringing payment services together on a single platform. Through one interface, businesses can receive payments, convert currencies and send funds across different countries. The platform uses stablecoins as its core technology while automatically selecting the most efficient payment route to reduce costs and improve transaction speed.
The company also provides virtual accounts in major global currencies, including the United States dollar, Hong Kong dollar and Chinese yuan. In addition, its application programming interfaces allow fintech companies and digital platforms to integrate international payment services directly into their own systems.
The startup was founded by Nigerian entrepreneurs Aleph L and Paul Joe, who previously established Helicarrier, an early cryptocurrency exchange and remittance platform backed by Y Combinator. Both founders have also built careers with global technology and financial companies, including Circle and Microsoft.
Speaking on the company’s vision, Paul Joe said the future of payments goes beyond simply transferring money. According to him, businesses increasingly need financial systems that fit naturally into their daily operations, making international transactions as seamless and programmable as modern software.
Investors believe stablecoins will continue playing a greater role in global trade, particularly in regions where businesses struggle with access to foreign currencies.
The Aptos Foundation, which supports development on the Aptos blockchain, joined the funding round as a strategic investor. The organisation believes businesses in emerging markets require faster settlement processes and improved access to dollar liquidity.
Senior Vice President at the Aptos Foundation, Ash Pampati, said combining payments, foreign exchange and treasury management into one platform has the potential to significantly improve how companies conduct business across international markets.
Globelink also pointed to the growing trade relationship between Africa and Asia as a major opportunity for modern payment infrastructure. According to Afreximbank, trade between both regions is worth hundreds of billions of dollars every year, creating strong demand for faster and more efficient cross border payment solutions.
The funding comes at a time when Africa’s payment ecosystem is undergoing significant transformation. The African Continental Free Trade Area continues to boost trade among African countries, while initiatives such as the Pan African Payment and Settlement System are reducing dependence on traditional correspondent banking networks.
Stablecoins are also becoming increasingly popular as practical tools for cross border settlements, especially in countries experiencing currency fluctuations and limited foreign exchange liquidity.
Daya said the newly secured funding will support product development, regulatory approvals, expansion into additional payment corridors and stronger partnerships with financial institutions as the company seeks to expand its presence in Africa’s rapidly growing cross border payments market, according to Zoyols News.
