NjiaPay, a Payments-as-a-Service (PaaS) provider, has secured over $1 million in pre-seed funding to improve digital payment processes for businesses across Africa. The funding round was led by HAVAÍC, with support from notable angel investors, including founders of Anyfin, Banxware, and Maxidrive.
Launched in late 2024 as a spin-off from Talk360, NjiaPay aims to address the complexities of payment processing that businesses in Africa often face.
Solving Payment Challenges in Africa
African businesses struggle with integrating multiple Payment Service Providers (PSPs), leading to operational inefficiencies, higher costs, and technical complexity.
NjiaPay streamlines payments by aggregating various PSPs into a single, user-friendly platform. This allows businesses to:
- Access a unified checkout system.
- Manage payments through a centralized portal.
- Optimize transactions with intelligent routing and fraud protection.
Rob Heath, Partner at HAVAÍC, emphasized the significance of this innovation:
“We have observed firsthand the challenges faced by our portfolio companies in managing payments across the African continent. The need to integrate with multiple PSPs can significantly impede their product development timelines. Streamlining payment operations is crucial for the growth of the African digital economy, and we believe that NjiaPay is well-positioned to address this critical need.”
NjiaPay’s AI-Powered Approach to Payments
NjiaPay’s platform incorporates:
- Intelligent payment routing to choose the best PSP for each transaction.
- Built-in redundancy to ensure smooth payment processing.
- Fraud protection to safeguard merchants and customers.
With this funding, NjiaPay plans to scale operations and enhance its platform capabilities. Jonatan Allback, Co-founder and CEO of NjiaPay, expressed enthusiasm about the company’s growth:
“We are thrilled to have secured this funding, which will enable us to scale our team, both in Amsterdam and Cape Town, and further enhance our platform’s capabilities. Our mission is to empower African businesses by simplifying the complexities of payments. By becoming their in-house payments experts, we enable them to focus on growth while we manage the operational and technical intricacies of their payments processing.”
Having previously worked at Adyen, a global payment solutions provider, Allback elaborated on the common struggles businesses face:
“As a Mid-Market company, or smaller enterprise, managing multiple PSP integrations often leads to increased cost and operational burdens, missed opportunities due to lack of technical resources, and at times, the need to maintain legacy payments infrastructure, all of which can hinder growth.”
Advanced Cloud and AI Technology
NjiaPay’s cloud-based system and AI technology work together to improve digital transactions. Roderick Simons, Co-founder and CPTO, highlighted the role of technology in making transactions more efficient:
“NjiaPay is built on the latest cloud-based technology and leverages AI to select the optimal PSP for each transaction, driving higher conversion rates and minimizing costs. Our platform also incorporates sophisticated fraud screening to safeguard businesses from losses.”
Expansion Plans for 2025
Currently operating in Nigeria, Kenya, and South Africa, NjiaPay has ambitious plans to:
- Broaden its product offerings in these key markets.
- Collaborate with more PSPs to enhance payment options.
- Scale operations across Africa to support business growth.
Hans Osnabrugge, Founder of Talk360 and Chairman of NjiaPay, shared how the platform has already made a difference for businesses:
“At Talk360, we experienced firsthand the value of NjiaPay’s solution. By transitioning to NjiaPay, we freed up valuable engineering resources and achieved a 25% increase in conversion rates, translating to significant revenue growth.”
Transforming Africa’s Payment Ecosystem
NjiaPay is redefining digital payments by offering an AI-powered, cloud-based solution that reduces costs, enhances efficiency, and ensures secure transactions. With this funding round, NjiaPay is set to:
- Help businesses streamline payments for better financial management.
- Increase transaction success rates with intelligent PSP routing.
- Support African businesses in scaling through seamless payment solutions.
