Prospa builds a combined banking and business-management platform for micro and small businesses in Nigeria, offering accounts plus invoicing, inventory management, payroll, employee and vendor management, and e‑commerce stores. The founders—Frederik Obasi, Chioma Ugo, and Rodney Jackson‑Cole—built the product in mid‑2019 and went live in October; the company also participated in Y Combinator's winter batch. Prospa says banking comprises roughly 10% of its product, with software tools as the primary focus for freelancers and entrepreneurs. The company reports tens of thousands of registered businesses, 35% month‑on‑month growth, over 150,000 product catalogs and 360,000 invoices sent on the platform. Pricing is tiered by turnover: businesses around ₦100,000 turnover pay no subscription, while higher‑turnover businesses pay between ₦3,000 and ₦5,000 monthly. Prospa plans to use new capital to double down on customer acquisition and hire more product and engineering talent.

Total raised

$4M

Funding rounds

1

Latest round

Seed

Latest activity

Sep 2021