Nectar Group raises $5 million for Bitcoin yield platform
- Nectar Group raised $5 million in seed funding at a $30 million post-money valuation.
- Portal Ventures led the round, according to The Block’s report.
- The funding supports development of HoneyB, a platform focused on generating yield from Bitcoin.
Nectar Group, developer of the HoneyB Bitcoin yield platform, raised $5 million in seed funding at a $30 million post-money valuation, according to an exclusive report by The Block.
Portal Ventures led the round, joined by Peer Venture Partners, Anchorage Digital Ventures, an unnamed family office and angel investors.
“Bitcoin is a massive asset class, but the options for earning income on it remain limited,” Nectar Group co-founder and CEO Josh Gordon said in a statement.
HoneyB plans to let users borrow stablecoins against Bitcoin collateral and invest the proceeds in income-generating strategies.
“We see HoneyB as the orchestration layer between bitcoin and capital markets,” Gordon said.
The planned strategy spans US Treasuries, fixed income, credit, gold, volatility and options, with collateral held through smart contracts or custody arrangements.
HoneyB targets annualised returns of around 2% to 4% on users’ Bitcoin holdings after financing costs and fees, although returns are not guaranteed.
HoneyB plans to launch for institutional investors outside the United States in the fourth quarter of 2026, with a retail product targeted for the first quarter of 2027.
