Juicyway Exits Stealth with $3 Million Funding After Processing $1.3B in Payments

After three years of operating in stealth, African fintech startup Juicyway has emerged with an impressive track record: $1.3 billion in total payment volume (TPV) from over 25,000 transactions. The company achieved this growth without using a public app or marketing campaigns, relying solely on organic word-of-mouth referrals.

Now officially launching with $3 million in pre-seed funding, Juicyway aims to strengthen African participation in the global economy by offering fast, cost-effective cross-border payment solutions powered by stablecoin technology.

The fintech was co-founded by Ife Johnson (CEO) and Justin Ziegler (COO) and boasts a growing client base that includes prominent names like PiggyVest, Bamboo, Bolt, and Afriex.

Tackling Africa’s Payment Challenges

Juicyway has set its sights on solving the liquidity issues often encountered in intra-African currency exchanges. Using liquidity pools for local and international payments, the platform supports multiple currencies, including the Nigerian Naira, USD, GBP, and CAD.

Users can access Juicyway’s services via its web and mobile apps or APIs, benefiting from real-time market-driven rates that help lower remittance costs. The startup has forged partnerships with institutions such as:

• Access Bank Nigeria for remittance services
• Bridge for stablecoin infrastructure
• Lead Bank USA for virtual dollar accounts

To ensure regulatory compliance and manage risks, Juicyway collaborates with Sumsub for advanced KYC and anti-fraud measures. Additionally, Joshua Wasserman, a former FDIC bank examiner, has joined the team to bolster its expertise in risk management.

Pioneering the Use of Stablecoins in Africa

Juicyway is part of a growing trend in Africa’s fintech sector, leveraging stablecoin technology to enhance cross-border payments. By reducing costs and expediting settlements, stablecoins present a competitive edge for businesses navigating the complexities of international transactions. The company’s recent funding shows its potential to make significant strides in enabling seamless, efficient payment solutions for African companies and individuals.