NjiaPay, our sister company, has successfully sealed an oversubscribed pre-seed funding round of over $1 million. The company aims to uncomplicate the payment process for businesses in Africa by incorporating AI technology, unified platforms, and efficient PSP integrations.
HAVAÍC spearheaded this round of funding, and notable angel investors also participated, including founders from Anyfin, Banxware, and Maxidrive. Established as a Talk360 spin-off in 2024, NjiaPay (Swahili for 'Route' and 'Path') offers a simplified payment management solution for African businesses, tackling both technical and operational obstacles.
HAVAÍC partner Rob Heath expressed his enthusiasm about the company's dedication to bolstering African businesses. He noted the difficulties companies encounter managing payments across Africa and the hindrance caused by the need for multiple PSP integrations. He believes that streamlining payment operations is vital for the African digital economy's growth, and sees NjiaPay as ideally positioned to address this need.
The payment management process in Africa presents substantial challenges. Businesses often struggle with the integration and management of numerous Payment Service Providers (PSPs), resulting in operational inefficiencies and inflated costs. NjiaPay offers a solution through its role as a smart PSP and payment methods aggregator. Merchants are provided access to a unified checkout experience and a consolidated merchant portal through a single, seamless integration, simplifying payment operations.
NjiaPay's platform also offers intelligent routing, inbuilt redundancy, and advanced features such as fraud protection. This ensures a smooth payment experience for merchants and provides centralized reporting and data management to simplify operations like customer support and finance.
Jonatan Allback, Co-founder and CEO of NjiaPay, expressed his delight about securing the funding. He looks forward to growing the team in Amsterdam and Cape Town and enhancing the platform's capabilities. With his vast experience at Adyen, a leading global PSP, Allback understands the crucial role of payments in today's online business success.
NjiaPay runs on the latest cloud-based technology and employs AI to choose the best PSP for each transaction. This increases conversion rates and reduces costs. The platform also includes advanced fraud screening to protect businesses from losses, according to Roderick Simons, Co-founder and CPTO of NjiaPay.
NjiaPay is live in Nigeria, Kenya, and South Africa, and plans to broaden its product offerings within these markets in 2025. The company aims to partner with more PSPs and expand operations across the continent.
Hans Osnabrugge, the founder of Talk360 and Chairman of NjiaPay's Board, highlighted the significant benefits of the NjiaPay platform. By shifting to NjiaPay, Talk360 was able to free up crucial engineering resources and see a 25% increase in conversion rates, leading to significant revenue growth.
NjiaPay, with its deep understanding of local market dynamics and unwavering commitment to supporting businesses, is set to enhance Africa's payment landscape. It offers merchants a way to overcome challenges and unlock new growth opportunities.
