HoneyB developer Nectar Group completes $5 million seed round, led by Portal Ventures

October 21: Nectar Group, the developer of Bitcoin yield platform HoneyB, has completed a $5 million seed round at a post-money valuation of $30 million, led by Portal Ventures with participation from Peer Venture Partners, Anchorage Digital Ventures, and others. The round utilized a SAFE and 1:1 token warrant structure.

HoneyB plans to allow users to borrow stablecoins against BTC as collateral and reinvest in strategies including U.S. Treasuries, fixed income, credit, gold, and options. The platform is scheduled to launch in Q4 2026, initially targeting institutional investors outside the United States, with a retail product expected in Q1 2027.