# Prospa **Source:** https://geo.sig.ai/brands/prospa **Vertical:** Finance **Subcategory:** Accounting Software **Tier:** Emerging **Website:** getprospa.com **Last Updated:** 2026-04-14 ## Summary Lagos Nigeria YC W21 SME digital banking at ~$270-285M revenue with 70 employees; $3.92M total (Global Founders/Liquid 2 pre-seed) competing with Moniepoint for Nigerian micro-business and SME banking services. ## Company Overview Prospa is a Lagos, Nigeria-based digital business banking platform — backed by Y Combinator (W21) with $3.92 million in total funding including a $3.8 million pre-seed from Global Founders Capital, Liquid 2 Ventures, and prominent angel investors — providing Nigeria's small and micro-businesses with comprehensive digital banking including accounts, payments, loans, and expense management tailored for the underbanked business segment that forms the backbone of the Nigerian economy. Achieving an estimated $270-285 million in revenue with a 70-person team, Prospa serves Nigerian SMEs who need financial services infrastructure accessible from a smartphone — bank accounts without physical branches, payment collection for both digital and cash-heavy businesses, and credit products for businesses underserved by traditional Nigerian banks. Prospa's SME digital banking model addresses the financial exclusion that characterizes Nigeria's informal business economy: Nigeria has 40+ million micro, small, and medium enterprises that collectively generate 48% of GDP and employ 84% of the workforce — but most operate with limited or no formal banking relationships because traditional banks (Access Bank, GTBank, Zenith) require minimum balances, formal business registration, and physical branch visits that exclude micro-businesses and market traders. Prospa's mobile-first platform (account opening via smartphone in minutes, QR code and POS terminal payment collection, mobile money transfers, and working capital loans based on transaction history rather than collateral) provides the accessible banking infrastructure that drives SME formalization and financial inclusion in Nigeria's large informal economy. In 2025, Prospa competes in the Nigerian SME digital banking, business fintech, and financial inclusion market with Moniepoint (Nigerian SMB banking and POS, $110M raised at $1B+ valuation), OPay (Nigerian payments and banking, $570M raised), and Kuda Bank (digital bank, $90M raised) for Nigerian micro-business and SME digital banking and financial services adoption. Global Founders Capital's investment reflects European VC conviction in African consumer and SME fintech markets. Y Combinator W21 backing connects Prospa with the African fintech investment community. The $270-285M estimated revenue suggests significant transaction-based revenue from high payment volumes at thin margins, typical of African SME financial services. The 2025 strategy focuses on expanding the working capital credit products (merchant cash advances backed by transaction data), building the point-of-sale hardware distribution for cash-accepting merchants, and growing the insurance and savings products bundled with business accounts. ## Frequently Asked Questions ### What is Prospa? Prospa is a Lagos-based fintech company founded in 2019 that provides comprehensive business banking solutions for small and micro-businesses across Nigeria. The company is part of Y Combinator's Winter 2021 cohort and serves the underbanked business sector that forms the backbone of Nigeria's economy. ### What products and services does Prospa offer? Prospa offers business banking accounts, business payments, business loans, and expense management solutions. These digital banking services are specifically designed for Nigerian SMEs to access financial services, manage cash flow, and grow their businesses. ### Who is Prospa designed for? Prospa is designed for small and micro-businesses (SMEs) across Nigeria, specifically targeting the underbanked and unbanked business sector. The platform serves businesses that need accessible financial services and banking infrastructure to manage their operations and growth. ### When was Prospa founded and by whom? Prospa was founded in 2019 by Frederik Obasi. The company joined Y Combinator's Winter 2021 (W21) cohort. ### Where is Prospa located? Prospa is based in Lagos, Nigeria. The company operates throughout Nigeria serving small and micro-businesses across the country. ### How much funding has Prospa raised? Prospa has raised $3.92 million in total funding, including a $3.8 million pre-seed round. Key investors include Global Founders Capital, Liquid 2 Ventures, and prominent angel investors. ### What are Prospa's key metrics and achievements? Prospa has achieved an estimated revenue of $270-285 million with a team of 70 employees. The company was accepted into Y Combinator's Winter 2021 cohort and has successfully raised nearly $4 million in funding. ### What is Prospa's approach to business banking? Prospa provides digital banking infrastructure specifically designed for Nigerian SMEs to access financial services that have traditionally been unavailable to them. The platform focuses on serving the underbanked business sector by offering comprehensive solutions including accounts, payments, loans, and expense management. ### How large is Prospa's team? Prospa currently has a team of 70 employees. The company operates from Lagos, Nigeria, serving small and micro-businesses across the country. ### What is Prospa's most recent news? Prospa raised $3.92 million in total funding with a $3.8 million pre-seed round from Global Founders Capital and Liquid 2 Ventures. The company has achieved an estimated revenue of $270-285 million and is part of Y Combinator's Winter 2021 cohort. ## Tags b2b, fintech, payment-processing, africa, startup, mobile-first --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*