• Fintech offers loans, payments, and business tools via its mobile app
• Platform helps formalize operations for small and informal businesses
• Over 150,000 Nigerian firms have used Prospa's services since launch

Prospa, a Nigerian fintech start-up, is helping small businesses access funding and manage daily operations through a mobile platform that combines banking, accounting, and business tools. Founded in 2019 by Frederik Obasi, Rodney Jackson-Cole, and Chioma Ugo, the Lagos-based company is focused on supporting micro, small, and medium-sized enterprises (MSMEs) in a market where formal financial services remain limited.

“Many MSMEs in Nigeria lack access to formal banking and business tools. They mix personal and business finances using cash, spreadsheets, WhatsApp, or paper logs, which causes inefficiencies, missed opportunities, and a lack of credit history,” said Frederik Obasi.

Available on both iOS and Android, the Prospa app has already been downloaded over a thousand times, according to the Google Play Store. Once users create an account, they gain access to a suite of features including business accounts, invoicing, expense tracking, and short-term loans, all from within the app.

One of Prospa’s strengths is its ability to provide a complete financial overview of a business. By combining transaction data, business history, and payment behavior, the app helps entrepreneurs build a clearer case for loan applications. This data-driven approach lowers perceived lending risk and allows faster access to credit, often in under 24 hours.

The platform serves both informal businesses and more structured enterprises. According to the company, it has already supported over 150,000 businesses by offering tailored financial tools that go far beyond traditional digital banking.