Zoropay is a Nigerian fintech startup that has made a notable impact in the education sector by offering a platform that finances student fees and eases the payment process for students studying abroad. The platform acts as a mediator between lenders and parents, enabling parents to make tuition payments in installments instead of a lump sum payment. Zoropay's goal is to ease the financial burden on parents and enable them to pay at a later date. The startup also intends to introduce a new cross-border payment feature that will be a game-changer for Nigerian students studying overseas who have struggled to make payments in the past.
Zoropay's saving plans are designed to assist users in achieving their financial objectives, including saving for allowances and other expenses. The startup has established partnerships with major institutions, such as RenMoney, Sycamore, VFD MFB, Edfin Microfinance Bank, Zitra Investments, and UK-based Edtech Ventures platform SuperCharger Ventures, to streamline access to funds and credit for parents and students.
Zoropay's speedy momentum and traction gained in a short time are expected to help over 250,000 parents and children in a year. The new cross-border payment feature is a significant step forward for Nigerian students studying abroad, as it simplifies the payment process and reduces the stress associated with paying fees. According to Zoropay's CEO, the platform's new feature is part of the company's broader mission to ease the financial burden on students and their families and provide them with the financial support they need to succeed in their academic pursuits.
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