Renew Capital, an Africa-focused impact investment firm has made a strategic investment in NjiaPay, a payment service provider (PSP) that simplifies payment processing for African merchants. The announcement was made on Tuesday
Renew Capital supports NjiaPay’s African expansion
Renew Capital’s investment in NjiaPay is part of its broader strategy to support innovative companies that drive economic growth and social impact in Africa.
NjiaPay offers a single integration platform for merchants, eliminating the need to manage multiple integrations. This simplification enhances payment efficiency and success rates through features like intelligent routing and centralised reconciliation.
“Our mission is to empower African businesses to thrive in the digital age by simplifying the complexities of payment processing,” said Jonatan Allback, co-founder and CEO of NjiaPay. “With NjiaPay, merchants can focus on growing their businesses while we handle the payment complexities”.
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NjiaPay’s intelligent routing leverages real-time PSP performance data and AI to select each transaction’s highest-performing and most affordable payment provider, driving higher conversion rates and minimising disruptions. The platform simplifies month-end reconciliations by consolidating data into a comprehensive report.
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NjiaPay fuels growth in Africa with renew capital Investment
With Renew Capital’s investment, NjiaPay plans to expand its platform, enhance its intelligent routing capabilities, and grow its African presence. This expansion aligns with Renew Capital’s vision to build the ecosystems and infrastructure for African businesses to thrive.
“NjiaPay is tackling a major obstacle for lean teams that do not have or cannot afford dedicated payment teams to navigate payment complexity,” said Melbourne Nyamadzawo, investment analyst at Renew Capital. “By unifying integrations and optimising payment infrastructure, NjiaPay empowers merchants to navigate the digital economy with confidence. We are proud to support NjiaPay as they scale their platform across the continent”.
Renew Capital’s commitment to investing in African businesses reflects its belief that economic growth solves many challenges developing countries face. By supporting companies like NjiaPay, Renew Capital aims to create a sustainable impact through investments that drive business growth and social development.