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.”
The funding comes seven months after Daya emerged from the Alliance DAO ALL15 cohort and positions the startup among a growing group of Africa-focused fintechs, including Yellow Card and Juicyway, betting that stablecoins can become a mainstream rail for cross-border business payments.
Originally published by TechCabal.