Prospa

Banking for businesses

getprospa.com

HQ: Lagos, LA, Nigeria

51-200

Fintech

Company research

Public company, workplace, funding, and market signals

Updated Jul 30, 2026

Overview

Prospa is a Nigerian fintech that provides business banking plus operating tools for SMEs and entrepreneurs, combining business accounts, credit, expense cards, spend controls, and related software in one platform.

Primary product

Business banking and operating system for Nigerian SMEs (business accounts, credit, expense cards, spend management, payroll/APIs).

Founded

2019

Headquarters

Lagos, Nigeria

Team size

11-50

Industry

Financial Services

Sub-industry

Fintech / SME business banking

Offices

65 Queens Street, Alagomeji, Yaba, Lagos, Nigeria

San Francisco, US

London, UK

Toronto, Canada

Business model

subscription fees

transaction fees

loan origination fees

interest income on lending

partnership revenue

Funding

Stage

Seed

Total raised

$3.9M

Latest round

Pre-seed · Sep 2021

Latest amount

$3.8M

Pre-seed

Sep 2021

$3.8M

Seed

Mar 2021 · Y Combinator

$125K

People & investors

Leadership

Frederik Obasi

Co-Founder & CEO

Chioma Ugo

Co-Founder & Head of Growth

Rodney Jackson-Cole

Co-Founder & Ex CTO

Investors

Ankur Nagpal

Danu Temelie

Global Founders Capital

The Todd & Rahul Angel Fund

Todd Goldberg

Y Combinator

Work & culture

Mission-driven and founder-led, with a strong emphasis on helping entrepreneurs build financial prosperity, shipping product quickly, and supporting customers with relationship-led service. Public content suggests a startup culture centered on ownership, growth, engineering/product execution, and community themes like #TogetherWeProspa.

Product & market

Pricing

Subscription fees for business tools plus fees/spreads from payments and lending; credit products are offered with account-activity-based limits and relationship-led underwriting.

Differentiators

—Business banking and operating tools in one app
—Relationship-led credit rather than purely automated lending
—Account opening in minutes
—Expense cards with real-time controls
—Sub-accounts, approvals, and team spend management
—Payroll and API features for operations
—Licensed and regulated financial institution with support centers rather than traditional branches

Technology

React

Vercel

Salesforce

QuickBooks

LinkedIn Sales Navigator

Facebook

iOS

Android

Web

Customers

Nigerian small businesses

micro and small businesses

entrepreneurs

freelancers

startups

growing companies

structured high-performing African businesses

Competitors

Moniepoint

Kuda Bank

OPay

Brass

Fundall

Scale & contact

Estimated revenue

~$8.3M estimated annual revenue (2024)

Estimated monthly visits

8.5K

Traffic estimate as of Jun 2025

help@getprospa.com +234 188 878 81

Signals & risks

Other

Jun 2024

Public reporting described repeated withdrawal delays and service downtime, with affected customers complaining about slow transaction processing and visiting the Yaba office for resolution.

Source

Other

Aug 2024

Prospa said partner bank account numbers were being discontinued and replaced with Prospa Capital MFB account numbers as part of a banking migration.

Source

Latest news

How Nigeria's Prospa has empowered over 150k companies with financial tools

Disrupt Africa · Jul 2025

Profile piece describing Prospa’s product suite, 150k+ businesses served, 2024 microfinance banking license, and revenue model (transaction fees, subscriptions, lending, and partnerships).

August Roundup

Kemi Aremu · Sep 2024

Monthly product/community update covering the relaunch of the partnership program, referral incentives, Zimi rewards, and the move to Prospa Capital MFB account numbers.

Discontinuation of Partner Bank Accounts

Prospa Team · Aug 2024

Official notice that partner bank account numbers from Wema, Sterling, and ReadyCash were being discontinued and replaced by Prospa Capital MFB account numbers.

Prospa Faces Withdrawal Issues Again, Halting Transactions for the Second Time in Five Months