About Prospa
Prospa is a company based in Lagos (Nigeria) founded in 2019. It operates as a FinTech, and Subscription Services. Prospa has raised $3.93 million across 2 funding rounds from investors including Global Founders Capital, Liquid 2 Ventures and Immad Akhund. Prospa offers products and services including Business Account, Business Loans, Expense Cards, and Spend Management. Prospa operates in a competitive market with competitors including Brass, Crediometer, Solve.money, GladeFinance and EVVA Finanzas, among others.
- Headquarter Lagos, Nigeria
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$3.93 M (USD)
in 2 rounds
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Latest Funding Round
$3.8 M (USD), Seed
Sep 08, 2021
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Investors
Global Founders Capital
& 6 more
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Employee Count
Employee Count
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Products & Services of Prospa
Prospa offers a comprehensive portfolio of products and services, including Business Account, Business Loans, Expense Cards, and Spend Management. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Business accounts are provided for secure financial management.
Loans are offered to support business growth initiatives.
Expense cards are issued for controlled team spending.
Spend management tools are provided for business control.
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Funding Insights of Prospa
Prospa has successfully raised a total of $3.93M across 2 strategic funding rounds. The most recent funding activity was a Seed round of $3.8 million completed in September 2021. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 2
- Last Round Seed — $3.8M
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First Round
First Round
(24 Mar 2021)
- Investors Count 7
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Sep, 2021 | Amount | Seed - Prospa | Valuation | Global Founders Capital , Liquid 2 Ventures | |
| Mar, 2021 | Amount | Seed - Prospa | Valuation | Y Combinator |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Prospa
Prospa has secured backing from 7 investors, including venture fund and angel investors. Prominent investors backing the company include Global Founders Capital, Liquid 2 Ventures and Immad Akhund. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Venture capital firm focused on early-stage startups
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Founded Year | Domain | Location | |
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Venture capital fund focused on seed-stage investment in multiple sectors
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Founded Year | Domain | Location | |
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Early-stage startups are accelerated via funding and educational programs.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Prospa
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Prospa
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Prospa Comparisons
Competitors of Prospa
Prospa operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Brass, Crediometer, Solve.money, GladeFinance and EVVA Finanzas, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Brass is recognized for providing smart financial tools for businesses.
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| domain | founded_year | HQ Location |
Digital banking services are offered to startups and growing businesses.
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| domain | founded_year | HQ Location |
Digital banking services are offered to small businesses.
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| domain | founded_year | HQ Location |
Integrated financial solutions are provided for businesses in multiple currencies.
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| domain | founded_year | HQ Location |
Digital banking services are offered to startups and businesses.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Prospa
Frequently Asked Questions about Prospa
When was Prospa founded?
Prospa was founded in 2019 and raised its 1st funding round 2 years after it was founded.
Where is Prospa located?
Prospa is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is Prospa a funded company?
Prospa is a funded company, having raised a total of $3.93M across 2 funding rounds to date. The company's 1st funding round was a Seed of $125K, raised on Mar 24, 2021.
What does Prospa do?
Prospa is established as a global fintech company focused on delivering banking and financial services to businesses in Nigeria. Services are offered in sectors such as digital banking, business loans, and expense management. Solutions are provided for current accounts, credit access starting from 10 million, and spend management tools. Support is extended through relationship-driven assistance, ensuring tailored financial backing for high-performing African businesses. Operations are licensed by the Central Bank of Nigeria, with deposits insured by the NDIC for security and trust.
Who are the top competitors of Prospa?
Prospa's top competitors include Brass, Solve.money and Crediometer.
What products or services does Prospa offer?
Prospa offers Business Account, Business Loans, Expense Cards, and Spend Management.
Who are Prospa's investors?
Prospa has 7 investors. Key investors include Global Founders Capital, Liquid 2 Ventures, Immad Akhund, Karim Atiyeh, and Ankur Nagpal.
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