African fintech startup Daya has secured $2.4 million in pre-seed funding to build a stablecoin-powered financial operating system for businesses navigating the continent’s complex cross-border payments landscape.
The round was led by Hivemind Capital, with participation from Lattice, Alliance, Globelink, and Aptos Foundation. It comes as stablecoin adoption accelerates across Africa, where volatile local currencies, slow correspondent banking rails, and high remittance fees continue to frustrate businesses moving money across borders.
Founded by Aleph Lasebikan and Paul Joe, Daya aims to provide companies with faster, transparent, and controllable payment infrastructure using stablecoins.
Read also: Konga CEO pushes stablecoins as Africa’s next trade infrastructure
Lasebikan, a former chief product officer at Helicarrier and Y Combinator alumnus, teams up with Joe, who previously held roles at Circle, Microsoft, and Helicarrier.
“African businesses that win globally will need faster payments as well as full visibility and control over every Naira, Dollar, and Yuan in motion,” the company stated.
Daya is building an operating system that integrates stablecoin rails directly into business workflows for treasury management, supplier payments, and payroll.
Market tailwinds
Africa’s payments market is undergoing rapid digitization. Cross-border trade within the continent remains cumbersome despite initiatives like the African Continental Free Trade Area (AfCFTA). Traditional wires can take days and incur fees of five percent to 10 percent, while forex liquidity in many markets is thin.
Stablecoins, pegged to major currencies like the US dollar, offer speed, lower costs, and reduced volatility.
Recent data shows Nigeria, Kenya, and South Africa leading in crypto and stablecoin volumes on platforms like Binance and local ramps. Businesses increasingly use USDT and USDC for imports from China and Europe, as well as for diaspora remittances that exceed $50 billion annually to the continent.
Daya’s approach goes beyond basic transfers. By focusing on the financial operating layer, the startup intends to offer real-time dashboards, compliance tools, multi-currency netting, and seamless on-ramps/off-ramps tailored to African regulatory environments.
This positions it at the intersection of crypto infrastructure and enterprise software, a segment attracting growing investor interest.
Read also: Stablecoins power Nigeria’s Web3 surge as startup hits $43m
Strong backing
Investors see strong potential. Hivemind Capital has backed several blockchain infrastructure plays, while Aptos Foundation’s involvement signals confidence in the underlying blockchain technology Daya may leverage.
The participation of specialized fintech and Africa-focused funds like Lattice, Alliance, and Globelink underscores belief in the region’s long-term digital finance opportunity.
For the founders, the timing appears strategic. With Circle’s IPO success and growing institutional comfort with stablecoins, infrastructure plays like Daya could capture significant volume as more African enterprises digitize their treasury operations.
Daya plans to use the fresh capital to expand its engineering team, secure key regulatory licenses, and pilot with early enterprise customers in high-volume corridors such as Nigeria–China, Kenya–India, and intra-African trade routes.
As global trade fragments and emerging markets seek alternatives to legacy banking rails, solutions like Daya’s could become essential infrastructure for the next generation of African businesses operating at scale. The company is still in early stages but enters a market where demand for reliable, programmable money movement is intensifying.
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