---
type: entity
entity_type: company
name: Hurupay
domain: internet-finance
status: active
founded: 2023
headquarters: Kenya
key_people:
  - Philip Mburu (Co-Founder & CEO)
  - Allan Okoth (Co-Founder & CTO)
  - James Mugambi (Co-Founder & COO)
  - Maxwel Ochieng (Founding Engineer)
  - Collins Wanga (Compliance Lead)
website: https://hurupay.com
key_metrics:
  total_volume: "$36M+ (12 months)"
  revenue: "$500K+ (12 months)"
  users: "30,000+"
  monthly_volume: "$7.2M (Feb 2026)"
  business_customers: 15
  team_size: 9
tracked_by: rio
created: 2026-03-11
---

# Hurupay

Hurupay is a stablecoin-based cross-border payments platform that embeds FX settlement directly into payroll and payment workflows. The company focuses on "last-mile" stablecoin utility—where digital dollars convert into usable money within familiar banking experiences—rather than wallet-to-wallet transfers. Operating across Asia, Africa, Europe, and the U.S., Hurupay has processed $36M+ in volume with 30,000+ users and $500K+ in revenue over 12 months.

The platform abstracts crypto complexity behind traditional payment interfaces while using stablecoins (USDC, USDT) for settlement infrastructure. Revenue comes from 0.5-2% fees on deposits and FX across both consumer and business sides. The company has secured backing from Founders Inc and angels from Microsoft and Bankless, and partnered with a top U.S. bank, Coins.ph, Circle Alliance, and blockchain ecosystems including Base, Solana, and Stellar.

## Timeline
- **2023** — Founded; received $45K in grants from Celo via Prezenti Grants
- **2024** — Continued Celo grant support; secured $150K investment from Founders Inc
- **2025** — Received grants from Base (4 ETH), Circle ($10K), Stellar ($82K); angel investments from Dawson Botsford (Bankless, $20K) and Tiffany Johnson (Microsoft, $10K)
- **H2 2025** — Achieved 32% month-over-month growth rate; scaled from ~$1.8M/month to $7.2M/month in transaction volume (4× growth in 6 months)
- **2026-02-03** — Launched $3M fundraise on Futardio (MetaDAO's futarchy launchpad)
- **2026-02-07** — Futardio fundraise closed with $2,003,593 committed (67% of target); entered refund status

## Relationship to KB
- Demonstrates hurupay-demonstrates-stablecoin-last-mile-fx-embedding-settlement-into-payroll-and-payments-workflows through workflow-embedded FX
- Case study for hurupay-raised-2m-of-3m-target-on-futardio-before-refunding-suggesting-futarchy-governed-launches-face-liquidity-or-conviction-gaps in futarchy-governed fundraising
- Relevant to [[stablecoin flow velocity is a better predictor of DeFi protocol health than static TVL because flows measure capital utilization while TVL only measures capital parked]]
- Contrasts with [[cryptos primary use case is capital formation not payments or store of value because permissionless token issuance solves the fundraising bottleneck that solo founders and small teams face]] by demonstrating payments as viable use case