Juicyway, a pioneering startup using stablecoin technology to transform cross-border payments in Africa, has officially launched with $3M in pre-seed funding. The round was led by P1 Ventures, with notable participation from Ventures Platform, Future Africa, and several other high-profile investors.
Founded in 2021 by Ife Johnson and Justin Ziegler, Juicyway aims to streamline cross-border transactions by offering fast, affordable global money transfers. The platform supports both fiat and cryptocurrency transactions, including currencies like the Nigerian Naira, US Dollar, and Canadian Dollar. It also provides services like multicurrency accounts, access to a liquidity pool, and real-time rates based on user demand.
In a short time, Juicyway has processed $1.3 billion in transactions across 4,000 customers. Trusted by big brands like Bolt and Bamboo, Juicyway partners with Access Bank for remittance services, leveraging stablecoin technology to make money transfers more efficient.
The new funding will support the company’s growth, including team expansion, technological advancements, and market entry. Key hires include regulatory experts and experienced engineers, signaling Juicyway’s commitment to building a robust, tech-driven platform.
The founders are focused on addressing Africa’s liquidity challenges, particularly for intra-African currency pairs, aiming to unlock greater financial inclusion across the continent. With the global remittance market in Africa valued at $90.2 billion, Juicyway’s innovative approach could be a game-changer for individuals and businesses alike.
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Their long-term vision is to democratize financial services, reduce transaction costs, and enable Africa’s participation in the global economy.
