African fintech startup Juicyway has raised a $3 million pre-seed funding round, making its public debut after operating in stealth mode for three years.
The company, which leverages stablecoin technology, aims to enhance cross-border payments and boost global financial accessibility for African businesses and individuals.
Juicyway’s platform enables seamless local and international transactions by integrating fiat and cryptocurrency payments.
Since its inception, it has processed over $1.3 billion in transaction volume from 25,000 transactions, serving 4,000 users without prior marketing efforts or a public app.
The platform’s customers include major corporations like Bolt and IHS, fintech giants such as Piggyvest and Bamboo, and international firms like Mocoh SA.
Juicyway’s offerings range from multi-currency accounts and real-time currency exchange to bulk disbursements and crypto trading, targeting the growing demand for faster, more cost-effective global payment solutions.
One of Juicyway’s key innovations is providing liquidity for intra-African currency pairs, a challenge in the continent’s foreign exchange market.
The platform’s real-time currency rates and liquidity pools enable businesses to manage foreign exchange with precision, offering rates based on market-driven competition.
In Nigeria, Juicyway operates “Naira Rates,” a widely-used price discovery tool for foreign exchange, with nearly 500,000 users tracking currency fluctuations daily.
Juicyway also offers multi-currency accounts insured through partners like Access Bank in Nigeria and Lead Bank in the U.S. These accounts allow businesses to hold and transact in various currencies, including USD, GBP, and CAD.
The startup utilises stablecoin technology to power its transactions, offering a faster and cheaper alternative to traditional payment methods. Instead of transferring fiat currencies directly, Juicyway uses cash deposited in U.S. bank accounts to purchase stablecoins like USDT and USDC, which are then sent to users’ digital wallets. These can be held or exchanged for local currencies, simplifying cross-border payments.
To ensure compliance and mitigate risks, Juicyway has onboarded top-tier financial experts, including former FDIC bank examiner Joshua Wasserman, and partnered with Sumsub for advanced KYC and KYB processes.
The company has implemented solid measures to detect anomalies and prevent fraud, maintaining high security and operational standards.
Recognising the risks of over-reliance on single banking partners, Juicyway has diversified its partnerships to ensure stability in its financial operations. This approach shows its focus on balancing innovation with regulatory compliance.
Juicyway enters a growing market of African fintechs leveraging stablecoin technology. Competitors like Yellow Card, which recently raised $33 million, and Waza are also using similar technology to tackle cross-border payment challenges.
However, Juicyway focuses on stablecoin orchestration, addressing both supply and demand in the payment ecosystem. This differentiates it from others.
“Our mission is to increase Africans’ access to the global economy,” said Ife Johnson, CEO of Juicyway. In prioritising product innovation and compliance, the company aims to help businesses and individuals to participate fully in the global financial sector.
