FastaMoni Technologies, a Nigerian financial technology startup, has launched EduPali, an online platform to tackle the challenges of higher education costs and limited access to education in Africa.
Launched in March, EduPali offers digital payment solutions to facilitate school fee payments for educational institutions and students. The platform focuses on optimizing the payment process to ensure affordability and flexibility for parents. It offers various payment options, including split payments for low-income families and one-off payments for families with moderate income levels. The company aims to increase compliance rates and allow more families to afford their children’s education. It also provides credit facilities to schools, empowering them to manage their operations and ensure smooth functioning efficiently.
Speaking about the initiative, Co-founder & CEO of FastaMoni Technologies, Adetola Adele, said:
Our focus is optimizing the payment process, ensuring affordability and flexibility for parents. 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 incorporates an AI system that enhances community engagement and helps prevent fraudulent practices, such as cross-carpeting between schools on the platform. With a keen focus on optimizing payment compliance rates while reducing the number of out-of-school children in Africa, starting with Nigeria, it offers a comprehensive solution that helps schools eliminate delays and enhance revenue flow.
Since its launch, the startup claims to have successfully onboarded over 100 schools, serving a student population of over 20,000. The company is raising a pre-seed funding round of $500,000 to expand its operations further. By securing these investments, FastaMoni Technologies aims to strengthen its financial resources and continue providing innovative financial solutions for the education sector in Africa. The firm offers a payment platform that simplifies funds management and enhances cross-border transactions.