Sproutly Unveils Version 2 and Announces Strategic Partnerships to Boost Educational Financial Services

18 Nov 2024

Nigerian fintech startup, Sproutly, has officially launched Version 2 of its platform, alongside several strategic partnerships aimed at providing enhanced solutions for educational institutions and their financial management.

Sproutly’s services help educational administrators manage various payment methods with ease, offering dedicated support while easing the financial burden on families. Although initially developed for K-12 institutions, feedback from the platform's first version led to the creation of Version 2, a refined product that now includes services for ed-tech companies, universities, colleges, alumni associations, and special schools.

“Our initial goal was to focus on providing financial services for kids and teens. As we targeted families and schools, we realized a greater opportunity to address a significant need in the education space. Prioritizing financial services over digital banking gave us a better market fit, helping us serve the same demographic with a data-driven approach,” said CEO Pierre Nwoke.

Founded in June 2021 by Pierre Nwoke, Maxwell Agu, and Prince Akachi, Sproutly initially started as a financial app for children, but it has since evolved into a comprehensive platform designed to streamline educational payments, simplify financial management, and offer access to credit for schools and families. The platform provides schools with greater cash visibility, precise financial reporting, and increased financial control.

The newly released Version 2 includes two key platforms: the Webapp School Dashboard and the Sproutly Mobile App for billing managers. The Webapp offers features such as advanced invoicing, payment collection, custom wallets, and a loyalty points system. On the other hand, the mobile app introduces flexible payment methods, wallet transactions, and multi-manager control for billing accounts. The platform also includes the Sproutly Cowri Credit program, enabling parents to pay tuition fees in installments, easing the financial strain amid rising educational costs.

Nwoke explained, “With tuition fees having increased by up to 100% in the past year, many families face financial difficulties. Cowri Credit offers a way for students to remain in school while parents pay their fees in manageable monthly installments, similar to paying utility bills.”

In line with its commitment to improving education through better financial solutions, Sproutly has also entered several strategic partnerships. These partnerships include:

  • Gamp: Offering discounted device protection services.

  • Zoho: Providing credits for Zoho’s workplace management tools.

  • Wellahealth: Offering discounted healthcare plans.

  • GO54: Providing discounts on email and domain services.

  • Prembly: Offering discounts on verification and background check services.

These partnerships are designed to give educational institutions access to vital tools and services that enhance both financial management and the overall educational experience.

Sproutly’s latest developments reflect its mission to address the growing financial challenges in the education sector and empower schools and families with the tools they need to succeed.

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