NjiaPay has secured $2.1m (R35m at R16,66 per US dollar) in seed funding led by European investor Newion Partners to expand its payment orchestration platform across Africa.
Left: NjiaPay CEO Jonatan Allback, Right: NjiaPay CPT Roderick Simons | image source:
NjiaPayThe Cape Town-based fintech provides software that helps businesses manage multiple payment service providers through a single integration.
The company said the funding will be used to grow its engineering and commercial teams, expand integrations with payment providers and support its growth across African markets.
Many merchants operating across Africa rely on several payment service providers to maintain transaction approval rates, support local payment methods and ensure system redundancy. This can add operational complexity and make payment reporting and reconciliation more difficult.
NjiaPay’s platform sits on top of a merchant’s payment infrastructure and routes transactions between providers in real time. It also consolidates payment performance data into a single reporting interface.
The company said the platform is particularly relevant for subscription-based businesses, where payment failures can result in lost revenue. NjiaPay plans to introduce tools such as card account updater technology, which automatically updates saved card details when cards expire or are replaced.
Clients using the platform include companies such as Talk360, Anytime Fitness and Melon Mobile.
NjiaPay said Talk360 reduced multiple payment service provider integrations to a single integration after adopting the platform, while improving checkout conversion rates in several markets.
Investors said the company is targeting a growing challenge for merchants operating in fragmented payment environments across Africa.
