New funding aims to help Juicyway address liquidity challenges and expand Africa’s role in the global currency markets.
Africa’s fragmented financial systems have long posed challenges for cross-border transactions. Juicyway, a fintech company aiming to revolutionize cross-border payments in Africa, has secured $3 million in funding to address this issue. The funding round reflects growing investor confidence in Africa’s potential to close its liquidity gaps and position itself competitively in the global currency market.
The funding round was led by Ventures Platform, Future Africa, Magic Fund and Microtraction and angel investors Andrew Alli, Gbenga Oyebode, and Tunde Folawiyo.
According to Ife Johnson, Co-founder and CEO of Juicyway, “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.” Johnson founded Juicyway alongside Justin Ziegler.
Juicyway’s Vision for Payment Innovation
With its new funding, Juicyway plans to develop innovative solutions to bolster liquidity for intra-African currency pairs. The startup’s mission aligns with the African Continental Free Trade Area (AfCFTA) goals, which emphasize the need for seamless financial integration to boost trade and investment across the continent.
The inefficiency of traditional payment systems has restricted Africa’s ability to unlock its economic potential. Juicyway is stepping in to provide a platform that ensures faster, cheaper, and more reliable cross-border transactions tailored to the African context.
Expanding Africa’s Economic Footprint
Juicyway’s solution goes beyond merely addressing liquidity. By streamlining cross-border payments, it supports African businesses in accessing new markets and scaling their operations. The implications of this extend to strengthening intra-African trade, a key pillar for achieving economic resilience and sustainability.
The company’s focus on creating digital infrastructure aligns with the broader fintech movement in Africa, where digital platforms are increasingly enabling financial inclusion.
The Road Ahead
With $3 million in new funding, Juicyway is poised to challenge the status quo of Africa’s cross-border payment systems. The company’s efforts not only seek to address existing inefficiencies but also open new pathways for Africa’s participation in the global financial ecosystem.
As Africa’s fintech landscape continues to evolve, companies like Juicyway are setting the stage for the continent to overcome systemic barriers and establish a stronger economic presence worldwide.
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