NjiaPay, a South African payments-as-a-service provider, has announced it has raised $1 million in pre-seed funding. The investment was led by HAVAÍC, with participation of angel investors including founders of Anyfin, Banxware, and Maxidrive.
In a statement, Jonatan Allback, co-founder and CEO of NjiaPay, said, “Our mission is to empower African businesses by simplifying the complexities of payments. By becoming their in-house payments experts, we enable them to focus on growth while we manage the operational and technical intricacies of their payments processing.”
With the funds, NjiaPay aims to expand its team in both Amsterdam and Cape Town and to further develop the platform’s capabilities. NjiaPay also expects to simplify payment management for businesses operating across Africa and solve the complexities and inefficiencies associated with integrating multiple payment service providers (PSPs).
“We have observed first-hand the challenges faced by our portfolio companies in managing payments across the African continent,” Rob Heath, a partner at HAVAÍC said. “The need to integrate with multiple PSPs can significantly impede their product development timelines. Streamlining 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.”
Many African businesses struggle with the technical and operational challenges of handling diverse payment systems, leading to increased costs and operational bottlenecks, NjiaPay, a PSP aggregator offers businesses a single integration point for managing transactions and provides a unified checkout experience and a consolidated merchant portal, simplifying payment operations.
NjiaPay also uses intelligent routing to direct transactions, incorporates built-in redundancy for reliability, and offers features such as fraud protection. NjiaPay claims this approach ensures a smoother payment experience for merchants while providing centralised reporting and data management tools to streamline back-office functions like customer support and finance.
Currently operating in Nigeria, Kenya, and South Africa, NjiaPay plans to expand its product offerings within these markets in 2025, partnering with additional PSPs and scaling its operations across the continent.
Roderick Simons, co-founder and CPTO of NjiaPay, emphasised the platform’s technology. “NjiaPay is built on the latest cloud-based technology and leverages AI to select the optimal PSP for each transaction, driving higher conversion rates and minimising costs,” he explained. “Our platform also incorporates sophisticated fraud screening to safeguard businesses from losses.”
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