Nigerian fintech startup FastaMoni Technologies has launched EduPali, an online platform designed to tackle the significant challenges posed by high education costs and limited access to education in Africa.
Launched to the public in March, EduPali provides digital payment solutions that streamline school fee payments, benefitting educational institutions and students alike.
“Our focus is on optimising the payment process, ensuring affordability and flexibility for parents,” said Adetola Adele, FastaMoni’s co-founder and CEO.
“We provide various payment options, including split payments for low-income families and one-off payments for families with moderate income levels. By facilitating these flexible payment options, we aim to increase compliance rates and enable more families to afford their children’s education.”
EduPali also offers credit facilities to schools, empowering them to efficiently manage their operations and ensure smooth functioning.
“Our platform also incorporates an AI system that enhances community engagement and helps mitigate fraudulent practices, such as cross-carpeting between schools on our platform,” Adele said.
Since launch, EduPali has onboarded more than 100 schools, catering to a student population exceeding 20,000. The startup is in the process of raising a US$500,000 pre-seed funding round.
“By securing these investments, we will further strengthen our financial resources, enabling us to expand our operations and advance our mission of providing innovative financial solutions for the education sector,” said Adele.