teleo-codex/entities/internet-finance/hurupay.md

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