Juicyway, a Nigerian start-up, has closed a $3 million pre-seed funding round to expand cross-border payment facilities. The business aims to assist organisations in sourcing foreign currencies to make payments between countries, which will help Nigeria manage one of its most pressing issues: exports and imports.
Juicyway will serve Nigeria, the U.S., the UK, and Canada through investors such as P1 Ventures and Ventures Platform, catering to companies that require foreign exchange (FX).
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A smart way to change money between countries
Established in 2021 by Ife Johnson and Justin Ziegler, Juicyway aims to assist business entities in swapping local currencies into U.S. dollars, Canadian dollars or Tether and other stablecoins such as USDC.
Firms can set up meetings with individuals selling the currency on the site. The market sets the prices, and there is clarity. Juicyway guarantees companies can obtain the highest value in their offerings without intermediaries’ intervention.
Fast growth and deals worth $1.3 billion
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Since its launch, Juicyway has helped over 4,000 individuals pay over $1300 million. The business expanded last year and aims for a broader reach and operations. It has already recorded several transactions in Canada, the UK, and Nigeria.
With the addition of stablecoins and DeFi, Juicyway is now making its services more widely available than before, which will aid in growing its user base. Juicyway has restocked its funds, gained significant expertise, and is prepared to show how it can handle cross-border payment issues.