Amid the challenging times faced by students and parents due to exorbitant tuition fee hikes of up to 300% in Nigerian educational institutions, one Nigerian fintech startup is stepping up to make a difference.
Because it wants to ease the burden caused by the fee hike, Nigerian fintech startup FastaMoni Technologies (regulated by the Central Bank of Nigeria) has introduced EduPali, an online platform designed to tackle the pressing issues of high education costs and limited access to education in Africa.
The platform offers a range of affordable daily, weekly, and monthly plans, empowering parents to choose the payment option that best suits their needs. With EduPali, school fee payment becomes more accessible, allowing parents to pay as little as ₦1,200 NGN daily, offering rebates and several bonuses for a high compliance rate.
For schools, EduPali offers a convenient way to track payment records of parents and students, ensuring better organization and monitoring of payment obligations. It even provides schools with access to future loans, supporting their expansion and the delivery of quality education.
The startup is also in the process of raising a $500,000 pre-seed funding round, which it says will further help it strengthen its financial resources and expand its operations of providing innovative financial solutions for the education sector.
Since its launch, EduPali has already onboarded over 100 schools, catering to a student population exceeding 20,000, according to Disrupt Africa, demonstrating the potential impact of its innovative approach.