Daya, a startup building stablecoin-based payment infrastructure for African businesses, has raised $2.4 million in pre-seed funding as it seeks to simplify how companies move money across borders.
The round was led by Hivemind Capital, with backing from Lattice, Alliance, Globelink and Aptos Foundation, underscoring growing investor interest in blockchain-powered financial rails for emerging markets.
The company is targeting a longstanding friction point for African firms operating internationally. Businesses that import goods, pay overseas suppliers or manage multi-country operations often depend on fragmented systems spanning banks, foreign exchange providers and crypto services. That patchwork typically leads to delays, high costs and limited visibility over transactions.
Daya’s platform brings these functions into a single interface, allowing companies to receive payments, convert currencies and transfer funds globally. It uses stablecoins as the underlying layer and routes transactions across different rails to optimize for speed and cost.
The product includes virtual accounts in major currencies such as U.S. dollars, Hong Kong dollars and Chinese yuan, as well as APIs that enable other fintechs and platforms to integrate cross-border payment capabilities.
The startup was founded by Nigerian entrepreneurs Aleph L and Paul Joe, who previously built Helicarrier, an early crypto exchange and remittance platform backed by Y Combinator. Both founders have experience across global technology and payments firms, including Circle and Microsoft.
“The next phase of payments won’t just be about moving money, but about integrating it into business workflows,” Joe said. “We are building infrastructure that makes cross-border transactions as seamless and programmable as modern software.”
Investors are betting on the increasing role of stablecoins in global commerce, particularly in regions where access to hard currency remains constrained.
Aptos Foundation, which supports development on the Aptos blockchain, joined the round as a strategic investor, pointing to demand for faster settlement and improved dollar liquidity in emerging markets.
“Bringing payments, FX and treasury into one system can materially improve how businesses operate across borders,” said Ash Pampati, senior vice president at the foundation.
Globelink highlighted the scale of trade flows between Africa and Asia as a key driver. According to Afreximbank, trade between the two regions accounts for hundreds of billions of dollars annually, creating significant demand for efficient payment infrastructure.
The funding comes as Africa’s payments landscape undergoes broader change. The African Continental Free Trade Area is accelerating intra-African commerce, while new systems such as PAPSS aim to reduce reliance on traditional correspondent banking networks.
At the same time, stablecoins are increasingly being used as practical alternatives for cross-border settlement, particularly in markets facing currency volatility and limited liquidity.
Daya plans to deploy the new capital toward product development, regulatory licensing, corridor expansion and partnerships with financial institutions, as it positions itself to capture a share of Africa’s growing cross-border payments market.