Imagine walking through the bustling markets of Africa, where each transaction is a testament to the region’s diverse and vibrant economies. However, beneath this vibrant surface lies a complex web of payment systems, with each of the 54 countries having a unique financial infrastructure.
This is where NjiaPay comes in. It is a payments-as-a-service provider born out of Talk360, a calling app for Africans abroad. NjiaPay’s mission is to simplify the fragmented African payment ecosystem by offering a unified checkout experience.
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On Tuesday, NjiaPay announced the successful completion of an oversubscribed pre-seed investment round, securing over $1 million. This funding milestone marks a crucial step in NjiaPay’s journey to streamline payments across Africa.
The birth of NjiaPay
NjiaPay was spun out of Talk360, which had previously raised $7 million in funding in 2022. This strategic move allowed Talk360 to focus on its core business of connecting people through its calling app, while NjiaPay could concentrate on addressing the complexities of African payments.
As Hans Osnabrugge, co-founder and CEO of Talk360, noted, “By carving out our payment ambitions into NjiaPay, we’ve sharpened our focus on what we do best—connecting people through our calling app—while paving the way for a new opportunity to improve payments in Africa”.
NjiaPay uses AI and machine learning to optimise payment methods and PSPs, boosting transaction success. Partnering with NjiaPay, Talk360 saw a significant rise in checkout conversion rates.
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Enhancing payment solutions across Africa
NjiaPay’s platform is designed to provide a seamless payment experience for customers across Africa. By integrating with multiple PSPs and offering a variety of payment options, NjiaPay expands businesses’ reach, allowing them to access a wider customer base.
Marika Beindorff, Talk360’s COO, highlighted the impact of NjiaPay’s expertise: “NjiaPay has taken on the complexity of the African payment ecosystem, which has simplified payments operations for us and allowed Talk360 to focus on growing its business.”
With $1M+ pre-seed funding, NjiaPay plans to enhance its services and launch to external customers by early 2025, expanding innovative payment solutions across Africa. This will empower businesses, boost e-commerce, and simplify payments for small enterprises.