By OpeOluwa Okudero 
In Nigeria, accessing foreign exchange (FX) has become a persistent challenge for businesses navigating the global market. Converting naira into dollars or other currencies for international payments often feels like a slow, expensive, and frustrating process. Juicyway, a Nigerian cross-border payments startup, is stepping in to simplify FX transactions and help businesses overcome this financial bottleneck.
With $3 million in pre-seed funding secured from prominent investors like P1 Ventures, Ventures Platform, and Future Africa, Juicyway is positioned to offer a practical solution to the FX crisis. This funding represents a critical step toward addressing one of the most pressing issues for Nigerian businesses striving to compete internationally.
Easing FX Struggles for Nigerian Businesses
For businesses that rely on imports or international partnerships, the FX crunch has often led to operational delays or, worse, a complete halt in activities. Juicyway offers an alternative: a marketplace that allows businesses to convert local currency into foreign currencies such as USD or CAD. By matching buyers and sellers directly, the platform ensures competitive, market-driven rates without the middlemen that typically drive up costs.
“We understand the frustration businesses face when they’re unable to access FX efficiently. Our goal is to make the process faster, more affordable, and fully compliant,” said Ife Johnson, CEO of Juicyway.
Since processing its very first $9 payment in late 2021, Juicyway has handled over $1.3 billion in total payment volume (TPV) across more than 4,000 customers. For Nigerian businesses, this means a reliable solution to FX challenges, enabling them to plan and execute cross-border transactions with greater confidence.
More Than a Temporary Fix
Juicyway is creating a lasting framework for seamless cross-border payments. The startup integrates traditional finance (TradFi) with decentralized finance (DeFi), allowing businesses to use stablecoin wallets for payments. This hybrid approach enhances speed and transparency while ensuring compliance with regulatory standards.
The company has also expanded its services to individuals, including freelancers and students, who need FX for payments or disbursements. With licenses like Nigeria’s International Money Transfer Operator (IMTO) license and regulatory authorizations in Canada and the UK, Juicyway is well-equipped to operate across multiple regions while maintaining compliance.
As Nigeria’s FX shortage continues to impact the economy, Juicyway’s innovative, market-driven approach offers businesses a sustainable solution. The company’s success highlights a growing trend of fintechs stepping in to address systemic challenges in the financial sector, paving the way for broader economic resilience.
For countless Nigerian businesses, Juicyway represents more than convenience, it is a critical tool for staying competitive in an interconnected world.
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