Launched in 2021 by Ife Johnson and Justin Ziegler, Juicyway has been quietly building a payments platform aimed at enabling seamless global financial transactions for individuals and businesses. Supporting both fiat currencies like the Nigerian Naira (NGN), US Dollar (USD), and Canadian Dollar (CAD), as well as cryptocurrency, Juicyway offers a modern, versatile solution for sending, receiving, and processing payments worldwide.
Juicyway’s innovative approach is perhaps best demonstrated through its flagship product, Naira Rates, Nigeria’s largest price discovery engine. This tool not only simplifies remittances but also provides access to foreign exchange (FX) through various payment channels. With its multicurrency accounts and liquidity pools, Juicyway ensures competitive rates for local and international payments.
A Proven Track Record of Growth and Partnerships
Licensed to operate in Nigeria, Canada, the USA, and the UK, Juicyway has already processed an impressive $1.3 billion in transactions, spanning 25,000 transactions from a base of 4,000 customers. The platform is trusted by leading brands such as Bolt, IHS, Piggyvest, Mocoh SA, Bamboo, and Afriex, while Access Bank serves as a key partner for remittance services. These milestones underscore the company’s ability to deliver value and efficiency at scale.
$3 Million Pre-Seed Funding and Public Launch
Emerging from stealth mode, Juicyway has announced its public launch alongside a $3 million pre-seed funding round led by P1 Ventures, with participation from Ventures Platform, Future Africa, Magic Fund, and several high-profile angel investors, including Andrew Alli, Gbenga Oyebode, and Tunde Folawiyo. The funding will accelerate Juicyway’s growth by enabling team expansion, technological upgrades, and entry into new markets.
Addressing Liquidity Challenges for African Currencies
Speaking on the company’s vision, Ife Johnson, co-founder and CEO of Juicyway, noted,
“Africa contributes less than one percent to the $5 trillion global currency market, largely due to the lack of liquidity for intra-African currency pairs. Traditional systems were not built to support this need. Over the next three years, we want Juicyway to become the platform where Nigerians—and eventually all Africans—can seamlessly convert African currencies to local ones and back.”
He further explained the company’s reliance on stablecoin technology to address these liquidity challenges, emphasizing its potential to unlock the vast but untapped currency pairs across Africa.
“Our ultimate goal is to enable liquidity where none exists today. Without stablecoin technology and our network model, achieving this would have been far more challenging.”
Building a Technology-First Cross-Border Solution
Juicyway is positioning itself as a technology-first platform focused on streamlining remittances at both their origin and destination points. Its payment solutions include cross-border payments, funds repatriation, treasury management, payment processing, and spend management—making it a one-stop-shop for businesses and individuals alike.
Speaking on their progress, co-founder and COO Justin Ziegler stated,
“Juicyway’s mission is to create a cost-effective, uninterrupted cross-border infrastructure that allows Africa to compete on equal footing in the global economy. The demand for better global payments has been evident in our rapid growth, and this investment represents a significant milestone for our company.”
Ziegler also highlighted how Juicyway’s platform eliminates the inefficiencies of using multiple financial tools, offering customers a streamlined solution for all their payment needs.
Investor Confidence and Strategic Vision
Investors have expressed confidence in Juicyway’s ability to revolutionize cross-border payments. Hisham Halbouny, co-founder and managing partner at P1 Ventures, stated,
“Ife, Justin, and Idris are tackling one of the most critical challenges in finance. Using innovative stablecoin technology, they are leapfrogging outdated infrastructure to create an inclusive, efficient cross-border payment system. At P1 Ventures, we look for exceptional founders like them—visionaries who redefine industries and empower emerging markets. We’re excited to support their journey.”
The Road Ahead for Juicyway
With the new funding, Juicyway is poised to scale its operations, enhance its technology, and enter new markets. The startup’s bold vision to transform African currencies’ liquidity and cross-border payments is well-aligned with the growing demand for better financial infrastructure across the continent. By leveraging cutting-edge technology and a robust network model, Juicyway is positioned to make a significant impact on Africa’s participation in the global economy.
As Juicyway steps into the spotlight, its mission to unlock financial inclusion and liquidity for African currencies could redefine how individuals and businesses in Africa interact with the global financial system.
