• Juicyway secured USD 3M in pre-seed funding to scale cross-border payments.
• It focuses on affordable, stablecoin-backed transfers to serve Africa’s underserved users.
• The startup could drive financial inclusion and boost SMEs across Africa.

The USD 3M Kickoff: A Bold Play in Payments

Juicyway just grabbed USD 3 million in pre-seed funding, setting its sights on easing cross-border payments for Africans. The funding round, led by Ventures Platform, Future Africa, Magic Fund and Microtraction, signals a big bet on solving a multi-billion-dollar problem: slow, expensive cross-border transfers.

“Africa contributes less than 1% to the USD 5 trillion global currency market, partly because there’s no liquidity for intra-African currency pairs. The old systems weren’t built to support this.”

Ife Johnson, Juicyway Co-Founder and CEO

Juicyway, a fintech newcomer in the payments scene, offers a smooth, low-fee solution for Africans sending and receiving money internationally. Competitors like Chipper Cash and Flutterwave are big names here, but Juicyway leans on its edge: agility and tech-driven efficiency.

By focusing on seamless user experience and stablecoin-backed payments, Juicyway is playing a long game for Africa’s unbanked and underserved communities. In the race to dominate Africa’s cross-border market, Juicyway’s lean, flexible model might just give it the edge it needs.

A Market Ripe for Disruption

Africa’s cross-border payment market is worth over USD 100 billion annually, yet it is notorious for high fees and slow processing times. Many traditional systems eat away at earnings, especially for SMEs, freelancers, and diaspora families sending remittances home.

Juicyway’s solution aligns with Africa’s fintech growth story, which has seen USD 4.8 billion in investments in 2023 alone, according to Briter Bridges. Governments and businesses are pushing hard for fintech adoption, making affordable and accessible solutions essential.

Moreover, Juicyway’s focus on stablecoin-backed transactions places it on trend with the global rise of digital currencies in emerging economies. By lowering costs and boosting speed, Juicyway is addressing a core regional need.

Shaping the Future: The Ripple Effect

With USD 3 million in early funding, Juicyway’s future looks bright. Backed by rising investor confidence in Africa’s fintech sector, the startup plans to scale its platform and expand into key African corridors.

By reducing cross-border transaction fees, Juicyway could unlock greater financial inclusion across Africa. This does not just benefit individuals but also SMEs driving regional trade. For a continent where over 50% of businesses are small enterprises, efficient payment solutions can be a game-changer for growth.With competitors like Chipper Cash and Wave already making waves, Juicyway will need to innovate and scale fast. However, its focus on stablecoins as a backbone for payments gives it an edge in transparency and reliability.