Prospa Analysis
What is Prospa?
Prospa is a fintech company offering business banking solutions, including accounts, payments, loans, and expense management for Nigerian businesses.
Employees
70
Founded
2019
Revenue
$270-285.6M
Business Model
Revenue from loan interest, origination fees, and diversified financial services.
Product Features & Capabilities
- Business Account & Payments, Loans, Investments & Treasury, Spend Management, Invoicing, Expense Cards
Pricing
- Free to open a Prospa account.
- No account opening fee.
- No requirement to maintain a monthly minimum balance.
- Standard transaction charges on outflow:
- ₦1,000.00 and below - ₦10.75
- ₦1,000.01 - ₦50,000.00 - ₦26.87
- ₦50,000.01 and above - ₦53.75
Who are the founders of Prospa
FO
Frederik Obasi
Co-Founder / CEO
Competitors Overview
Prospa's main competitors in the fintech market include:
-
Funding Societies: A peer-to-peer lending platform that connects small businesses with investors. It offers a range of financing options tailored for SMEs, emphasizing quick access to funds.
-
Kredi Bank: A full-service digital b
Market Focus
Prospa primarily focuses on the fintech industry, providing banking and financial services tailored for businesses, including tools for payments, loans, investments, and spend management.
Investors
- Liquid 2 Ventures
- The Todd & Rahul Angel Fund
- Y Combinator
- Salter Brothers
- Startupbootcamp AfriTech
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