Two innovative founders, Ife Johnson and Justin Ziegler, are steering efforts at Juicyway, a fast-growing fintech startup re-shaping cross-border payments for Africa and beyond.
Founded in 2021, Juicyway offers individuals and businesses a seamless way to send, receive, and process payments globally.
The platform supports multiple fiat currencies, including the Nigerian Naira (NGN), US Dollar (USD), and Canadian Dollar (CAD), while integrating cryptocurrency transactions.
Juicyway’s model leverages stablecoin technology to facilitate fast, efficient money transfers and ensure liquidity for African currency pairs.
The startup also offers multicurrency accounts, access to liquidity pools for competitive transactions, and API integration for global financial operations.
Meet the founders of Juicyway
Ife Johnson, Juicyway’s Co-founder and CEO, brings a wealth of experience, having previously served as Chief of Staff and Head of Growth at Bamboo.
A graduate of Obafemi Awolowo University, Johnson is also a certified product manager and a co-founder of US-based platforms Career Buddy and Tamborin.
He serves as the Head of Regional Projects – Africa at Octa FX and as a limited partner at Magic Fund.
Justin Ziegler, Juicyway’s Co-founder and COO, is an alumnus of Princeton University and Stanford Business School.
Before co-founding Juicyway, he worked as Chief of Staff at Andela, gaining extensive expertise in scaling operations.
Since learning Swahili as an undergraduate at Princeton University, Justin Ziegler has focused on building businesses in Africa.
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How fast is Juicyway growing?
Juicyway is licensed to operate in Nigeria, the USA, Canada, and the UK. According to CEO Ife, the company plans to expand into other African markets after reaching critical mass.
“Our vision over the next three years is to become the platform where Nigerians and eventually all of Africa, can easily convert currencies and facilitate cross-border transactions,” Johnson said. “Our ultimate goal is to unlock liquidity for African currency pairs, using stablecoin technology to make this achievable.”
Milestones and funding
Juicyway has processed $1.3 billion across 25,000 transactions for over 4,000 customers, including high-profile clients like Bolt, Piggyvest, and Access Bank.
In its pre-seed round, Juicyway raised $3 million, led by P1 Ventures, with participation from Ventures Platform, Future Africa, Magic Fund, and notable investors like Andrew Alli and Gbenga Oyebode. The funding was secured while the company was still operating in stealth mode.
What are investors saying?
Hisham Halbouny, Co-founder and Managing Partner at P1 Ventures, praised Juicyway’s innovative use of stablecoin technology.
“They’re creating a seamless, efficient, and inclusive cross-border payment system that reshapes how Africans connect with the global economy,” he said.
According to Dr. Dotun Olowoporoku of Ventures Platform, “Juicyway’s forward-thinking approach strategically positions it as a transformative force in Africa’s rapidly evolving financial landscape.”
What you should know:
Stealth mode is the strategy startups use to keep their products, services, and operations confidential until they are ready to launch. This allows companies to develop their offerings without the risk of being imitated or intimidated by competitors. It also gives them control over the narrative surrounding their product launch. In practice, stealth mode involves maintaining a low profile while working on innovative solutions. This is to ensure the company’s competitive edge remains intact until launch day.
With African remittance fees averaging 13% for $200 transfers, Juicyway’s solutions address a pressing need.
The startup’s model, which reduces costs and speeds up transactions using stablecoins, is a game-changer for individuals and businesses alike.
As Juicyway continues to grow, it joins the ranks of other innovative African fintechs like Chipper Cash and Flutterwave, aiming to redefine financial connectivity across the continent.
Commentary
- Juicyway’s approach to addressing Africa’s financial challenges might stand out not just for its innovative use of stablecoin technology but for its commitment to creating a more inclusive financial ecosystem.
- Through targeting the high costs of remittance and unlocking liquidity for African currencies, the startup just might be set to play a great role in reshaping cross-border payments.
- I believe with a strong leadership team and an ambitious vision, Juicyway is setting a benchmark for what fintech can achieve on the continent and beyond.
