The Nigerian fintech company Daya is leveraging investment support from Boost Africa a joint initiative of the European Investment Bank (EIB) and the European Union (EU) to develop financial solutions designed to simplify cross-border payments and connect African businesses to international markets.
The company aims to resolve long-standing hurdles in international commerce, including slow processing times, steep transaction fees, and complex clearance procedures that regularly constrain enterprises operating across African borders and beyond.
Accessing foreign markets often presents significant operational and financial challenges for African enterprises, particularly when clearing payments across multiple currencies and regulatory jurisdictions. Daya is positioning itself among a growing cohort of technology-driven firms working to eliminate these barriers through streamlined payment infrastructure.
Daya’s growth is backed by Boost Africa, a program established by the EIB and the European Commission to strengthen Africa’s entrepreneurial ecosystem. Boost Africa channels equity financing to innovative enterprises indirectly through regional venture capital funds. Daya secured its funding via Janngo Capital, a venture firm supported by the Boost Africa framework.
In a corporate presentation highlighting the company’s trajectory, Tomiwa “Aleph” Lasebikan, founder of Daya, detailed the operational friction that inspired the platform and outlined its long-term strategy to transform cross-border commerce for African enterprises.
Reliable payment infrastructure remains essential for international trade, enabling firms to manage liquidity, stabilize cash flows, and expand customer bases. By developing accessible financial architecture, Daya seeks to foster a more integrated economic ecosystem across the continent.
The initiative aligns with broader efforts by international development finance institutions to accelerate Africa’s digital economy, drive private-sector investment, and expand access to global trade networks.
