Nectar Group Raises $5M at $30M Valuation for Bitcoin Income Platform HoneyB

HoneyB hasn't shipped yet, but its developer now has the runway to try. Nectar Group closed a $5 million seed round at a $30 million post-money valuation for the Bitcoin income platform, the company said Tuesday.

Portal Ventures led the round. Peer Venture Partners, Anchorage Digital Ventures, an unnamed family office and angel investors also participated. CEO Josh Gordon said the deal was structured as a SAFE (simple agreement for future equity) with a one-for-one token warrant. No investor got a board seat, observer role or advisory position. Fundraising started at the end of Q4 2025 and wrapped at the start of Q3 2026.

How HoneyB works

Users borrow stablecoins against BTC collateral, and the stablecoins get routed into income strategies: U.S. Treasuries, fixed income, credit, gold, volatility and options. Collateral can sit in an onchain smart contract or in a three-party setup among borrower, lender and custodian. Anchorage Digital and BitGo serve custodial clients, and the infrastructure spans Ethereum, Sui, Solana and Arch Network.

The first strategy uses a fund from Simplify Asset Management, which manages about $13.5 billion. Alphaledger manages and tokenizes the fund, and Amber Capital SPC issues the product.

"Bitcoin is a massive asset class, but the options for earning income on it remain limited"

Josh Gordon, CEO of Nectar Group

The return math

Headline yields differ by source. One report cites about 12% gross annualized returns from the strategies. Gordon's own numbers are more modest: the underlying product aims for about 10% a year, while HoneyB targets roughly 2% to 4% on the user's bitcoin after borrowing costs and fees.

That net figure is the one a BTC holder would actually feel.

Gordon was explicit about the caveats:

"Actual results depend on strategy performance, borrowing costs and loan-to-value ratios. Returns are not guaranteed,"

Josh Gordon, CEO of Nectar Group

The risk is the familiar one for any BTC-backed loan. If Bitcoin falls sharply, the collateral shrinks against the stablecoin debt, and the carry has to outrun that.

Timing and what's next

Launch is planned for Q4 2026, initially for institutional investors outside the U.S., with business verification checks. U.S. institutional products are also planned, and a retail product is expected in Q1 2027. HoneyB will earn platform fees on capital deployed. Arch Network and Chintai, which handles compliance for tokenization, are named partners.

For now, the website says "coming soon." There is no live token and no reported TVL, so investors are backing a design and a partner list, not a track record.

Proceeds will go to product development, custody and financing integrations, legal and compliance work, and distribution. Nectar was founded last October and has more than 12 employees.

Context

Gordon named Bitwise, Lombard, Solv and Sentora as competing platforms, so the BTC yield lane is already crowded. His pitch comes down to positioning.

"We see HoneyB as the orchestration layer between bitcoin and capital markets."

Josh Gordon, CEO of Nectar Group

With a $30 million valuation and zero live metrics, the real test comes at launch: whether a net 2% to 4% on BTC is enough to pull holders off the sidelines once borrowing costs and liquidation risk are priced in.