NjiaPay has recently announced the successful completion of a $1 million plus pre-seed funding round. The company, which operates as a payments as-a-service (PaaS) platform tailored for African businesses, secured this investment from HAVAIK and several angel investors.
The funds will be utilized to scale NjiaPay’s team in Amsterdam and Cape Town, enhance the platform’s capabilities, and expand its product offerings across Nigeria, Kenya, and South Africa. With over eight years of experience at Adyen—a leading global payments service provider (PSP)—NjiaPay’s co-founder and CEO Jonatan Allback brings a deep understanding of the challenges faced by African businesses in managing multiple PSP integrations.
Managing payments on the continent presents significant hurdles for businesses, often requiring integration with multiple PSPs. This can lead to operational inefficiencies, increased costs, missed opportunities due to a lack of technical resources, and sometimes maintaining legacy systems that hinder growth. NjiaPay addresses these challenges by acting as a smart aggregator of PSPs and payment methods.
The platform leverages intelligent routing, built-in redundancy, and advanced fraud protection features. This ensures frictionless checkout experiences for merchants while providing centralized reporting and data management to streamline operational functions such as customer support and finance. Through seamless integration, NjiaPay empowers businesses to focus on growth without worrying about the complexities of payment processing.
NjiaPay currently operates in Nigeria, Kenya, and South Africa but plans to expand its product offerings within these markets by partnering with more PSPs and scaling operations across the continent in 2025. With over a decade of experience in fintech, Allback emphasizes the critical role payments play in driving business growth today.
Roderick Simons, co-founder and chief technical officer (CTO) of NjiaPay, highlighted the platform’s technological advancements. “NjiaPay is built on cloud-based technology that leverages AI to select the optimal PSP for each transaction,” he explained. “Our platform also incorporates sophisticated fraud screening to safeguard businesses from losses.”
Currently live in Nigeria, Kenya, and South Africa, NjiaPay plans to expand its product offerings within these markets by 2025 through partnerships with more PSPs and scaling operations across the continent.
At Talk360, which spun off into NjiaPay’s chairman of the board role since 2018, Hans Osnabrugge underscored the tangible benefits of NjiaPay’s solution. “We experienced firsthand the value of NjiaPay’s platform,” he said. “By transitioning to NjiaPay, we freed up valuable engineering resources and achieved a 25% increase in conversion rates, translating into significant revenue growth.”
With deep understanding of local market dynamics and a steadfast commitment to empowering businesses, NjiaPay is poised to improve the payment landscape in Africa.
Rob Heath, partner at HAVAIK, stated: “We have observed firsthand the challenges faced by our portfolio companies in managing payments across the African continent. The need to integrate with multiple PSPs can significantly impede their product development timelines,” he said. “Simplifying payment operations is crucial for the growth of the African digital economy and we believe that NjiaPay is well-positioned to address this critical need.”
