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- Source: inbox/archive/2026-02-03-futardio-launch-hurupay.md - Domain: internet-finance - Extracted by: headless extraction cron (worker 5) Pentagon-Agent: Rio <HEADLESS>
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2.4 KiB
Markdown
50 lines
No EOL
2.4 KiB
Markdown
---
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type: entity
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entity_type: company
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name: Hurupay
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domain: internet-finance
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status: active
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founded: 2023
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headquarters: Kenya
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website: https://hurupay.com
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key_people:
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- Philip Mburu (Co-Founder & CEO)
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- Allan Okoth (Co-Founder & CTO)
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- James Mugambi (Co-Founder & COO)
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- Maxwel Ochieng (Founding Engineer)
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- Collins Wanga (Compliance Lead)
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key_metrics:
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total_volume: "$36M+ (12 months)"
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monthly_volume: "$7.2M (current)"
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revenue: "$500K+ (12 months)"
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users: "30,000+"
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business_customers: 15
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team_size: 9
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funding:
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grants: "$137K (Celo, Base, Circle, Stellar)"
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institutional: "$150K (Founders Inc)"
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angels: "$30K (Bankless, Microsoft)"
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tracked_by: rio
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created: 2026-03-11
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---
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# Hurupay
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Hurupay is a stablecoin-based cross-border payments platform that embeds foreign exchange into payroll and payment workflows. The company processes $7.2M monthly volume across 30,000+ users by abstracting blockchain complexity behind familiar banking experiences—users interact with payroll and withdrawals rather than wallets and tokens.
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The platform enables 24/7 instant swaps between USD and non-USD stablecoins embedded directly into payment flows, positioning itself as "last mile" infrastructure where stablecoins become usable money. Revenue comes from 0.5–2% fees on deposits, withdrawals, and payroll funding.
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Hurupay attempted a $3M fundraise on Futardio in February 2026 but entered refunding status after committing $2M, demonstrating futarchy's liquidation mechanism in practice.
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## Timeline
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- **2023** — Founded; secured $45K in grants from Celo via Prezenti
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- **2024** — Processed initial transaction volume; secured backing from Founders Inc ($150K) and angels from Microsoft and Bankless ($30K total)
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- **2025 Q3-Q4** — Scaled from ~$1.8M/month to $7.2M/month in processed volume (4× growth, 32% MoM)
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- **2025** — Secured additional grants: Base (4 ETH), Circle ($10K), Stellar ($82K)
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- **2026-02-03** — Launched $3M fundraise on Futardio
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- **2026-02-07** — Fundraise closed in refunding status after committing $2,003,593 (66.8% of target)
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## Relationship to KB
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- Demonstrates [[hurupay-demonstrates-stablecoin-fx-embedded-in-payroll-workflows-achieving-7-2m-monthly-volume-through-last-mile-settlement]] <!-- claim pending -->
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- Case study for [[futarchy-governed liquidation is the enforcement mechanism that makes unruggable ICOs credible because investors can force full treasury return when teams materially misrepresent]]
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- Launched on [[futardio]] |