Juicyway, a pioneering cross-border payments startup, has successfully raised $3 million in pre-seed funding. Led by P1 Ventures, the round also saw participation from renowned investors such as Ventures Platform Fund, Future Africa, MAGIC Fund, Microtraction, and Angel Investors Network.
Fuelling Growth and Expanding Reach
The newly acquired $3 million funding will be strategically allocated to several key areas:
- Expanding Teams: Juicyway will invest in bolstering its marketing and business development teams to drive growth and reach a wider audience.
- Enhancing Technology Infrastructure: The company will continue to refine its technology infrastructure to ensure seamless and secure cross-border transactions.
- Scaling Operations: Juicyway aims to expand its operations across its current markets, solidifying its position as a leading player in the Nigerian fintech industry.
A Hybrid Approach to Borderless Payments
Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway has rapidly gained traction, processing an impressive $1.3 billion in total payment volume for over 4,000 customers since its inception.
What sets Juicyway apart is its innovative hybrid approach that blends the best of both worlds: decentralised finance (DeFi) and traditional finance (TradFi).
By leveraging stablecoins like Tether and USDC, businesses can make cross-border payments with ease and efficiency, bypassing traditional banking systems and their associated fees and delays.
A Market-Driven Approach to Foreign Exchange
Juicyway’s marketplace model operates on a peer-to-peer basis, matching customers exchanging currencies without acting as a counterparty.
This market-driven approach allows for dynamic pricing, often resulting in more favourable foreign exchange rates for businesses compared to traditional methods. The platform generates revenue through transaction fees and spreads, ensuring a sustainable business model.
A Visionary Beginning
Founded in 2021 by the dynamic duo of Ife Johnson and Justin Ziegler, Juicyway is more than just a payment platform. It’s a vision brought to life, aiming to empower individuals and businesses to seamlessly send, receive, and process payments across borders.
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By supporting a diverse range of fiat currencies, including the Nigerian Naira, US Dollar, and Canadian Dollar, as well as cryptocurrency transactions, Juicyway caters to a global audience.
Leveraging Expertise
As the creators of Nigeria’s largest price discovery engine, Naira Rates, Juicyway brings a wealth of experience to the table. This expertise enables the platform to facilitate remittances and provide access to foreign exchange through various payment channels.
With multicurrency accounts and access to a liquidity pool, Juicyway offers competitive rates for both local and international payments.
A Proven Track Record
Licensed in key jurisdictions like Nigeria, Canada, the USA, and the UK, Juicyway has quickly established itself as a trusted and reliable player in the industry.
Processing over USD$1.3 billion across 25,000 transactions and serving 4,000 customers, the platform has demonstrated its value and efficiency.
Renowned brands such as Bolt, IHS, Piggyvest, Mocoh SA, Bamboo, and Afriex, along with partnerships with major financial institutions like Access Bank, underscore Juicyway’s credibility.
A User-Centric Approach
Accessible through its website, mobile app, and APIs, Juicyway simplifies the process of money movement. By displaying real-time rates based on market dynamics and user demand, the platform fosters a liquid ecosystem. This transparency and market-driven pricing empower users to make informed decisions and achieve greater financial inclusion.
Why Choose Juicyway?
Juicyway is more than just a payment platform. It’s a full-featured financial solution that offers a range of services to meet the diverse needs of businesses worldwide.
Key Features of Juicyway:
- Multi-Currency Accounts: Manage local and foreign currency accounts seamlessly. Pay vendors, partners, and contractors in various currencies without the hassle.
- Currency Exchange: Exchange currencies effortlessly between NGN, CAD, USD, USDT, and USDC. Benefit from real-time exchange rates and optimise your global financial management.
- Disbursements & Payroll: Simplify bulk payments and payroll processes with a few clicks. Focus on your core business while Juicyway handles the financial complexities.
- Cryptocurrency: Manage and transfer cryptocurrencies alongside traditional currencies. Trade live with real-time updates, advanced charting, and professional tools.
- Payment Links: Generate payment links to accept payments from anywhere in the world. Customers can pay using their preferred method, making transactions quick and secure.
- API Integrations: Integrate Juicyway’s API into your existing systems to automate currency exchange processes, saving time and reducing costs.
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The Juicyway Advantage:
- Security: Your assets and data are protected with industry-leading security standards, including PCI DSS Level 1 and SOC 2 compliance.
- Reliability: Benefit from seamless and flexible payments, ensuring peace of mind from initiation to delivery.
- Efficiency: Save time and effort with streamlined processes and intuitive user interfaces.
- Global Reach: Access a global network of financial services to meet your international business needs.
- Expert Support: Our dedicated support team is available to assist you with any questions or concerns.
Join the Juicyway Community
With ambitious plans for another funding round in the next 18-24 months, Juicyway is set to address the persistent challenge of foreign exchange access for Nigerian businesses. Whether you’re a small business owner or a large corporation, Juicyway is the ideal financial partner. Experience the future of finance today.