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South African fintech startup NjiaPay has successfully raised over $1 million in an oversubscribed pre-seed funding round. The round was led by HAVAÍC, with participation from prominent angel investors, including founders of Anyfin, Banxware, and Maxidrive.
Launched in late 2024 as a spin-off from Talk360, an international calling app for the African diaspora, NjiaPay aims to streamline payment management for African businesses by addressing both technical and operational challenges. The platform acts as a smart aggregator of Payment Service Providers (PSPs) and payment methods, offering merchants a unified checkout experience and a centralized merchant portal through a single integration.
Co-founder and CEO Jonatan Allback, who previously spent eight years at global PSP leader Adyen, emphasized the importance of payment infrastructure in business success:
“As a mid-market company or smaller enterprise, managing multiple PSP integrations can be costly and resource-intensive, often forcing businesses to maintain outdated payment systems that hinder growth.”
Co-founder and CPTO Roderick Simons highlighted the platform’s technological capabilities:
“Our platform intelligently selects the optimal PSP for each transaction, driving higher conversion rates while minimizing costs. Additionally, our sophisticated fraud protection ensures merchants are safeguarded from potential losses.”
Rob Heath, Partner at HAVAÍC, expressed enthusiasm about NjiaPay’s potential:
“We have observed firsthand the difficulties faced by our portfolio companies in managing payments across Africa. The need to integrate with multiple PSPs can severely delay product development. Streamlining payment operations is essential for the growth of the African digital economy, and we believe NjiaPay is well-positioned to address this need.”
Currently operational in Nigeria, Kenya, and South Africa, NjiaPay plans to expand its product offerings and partnerships within these markets in 2025, with intentions to scale across the continent. The company will use the newly acquired funds to scale its teams in Amsterdam and Cape Town and further enhance its platform’s capabilities.
With a deep understanding of local market dynamics and a commitment to empowering African businesses, NjiaPay is poised to revolutionize the region’s payment landscape, unlocking new opportunities for growth and financial inclusion.
Read more on Tech Gist Africa:
Omnisient, a South African fintech startup, has raised $7.5 million in Series A funding
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