Prospa Fintech App Review

AfricaExplained August 4, 2021Last Updated: August 4, 2021

2 minutes read

Prospa is a new exciting Nigerian Fintech app designed to increase the efficiency and productivity of entrepreneurs and freelancers alike.

With this app, business owners can focus on growing their businesses while the app handles their finances. Prospa app offers services including bank account opening for your business (corporate account), create invoices, create sub-accounts for other people, add team members to manage your funds, send money, receive money and many more from a single dashboard.

If you are a business owner who does not appreciate lining up in a banking hall, then this app is especially designed for you. Here is a full list of things you can do on Prosper app:

Your account comes with:
• Bank account number in your business name
• Receive transfers from all Nigerian banks
• Send transfers to all Nigerian banks
• Create sub-accounts
• Auto-Split your funds across sub-accounts
• Manage your customers
• Send invoices
• Pay bills
• Buy airtime
• International transfers (Ghana, Kenya, UK)
• Add team members
• Download your statement
• Add and manage additional businesses
• Extra tools & features to keep your business on autopilot
• Integrate with existing software
• Transparent and easy to understand fees

How do I get a Prosper account?

If your business is already registered with the Corporate Affairs Commission CAC, and you already have a Tax Identification Number TIN, then proceeding will be a lot simpler. If your business is not yet registered, you can do it right on the Prospa App. Simply download and install the app on your phone to get started. ones your business registration is complete, you will receive the following:

You will receive your CAC pack containing

Registration forms
Business name certificate

You will also receive your

TIN
TIN slip

Is Prospa legit or a scam?

Prospa is legit, the app is owned by the parent company Prospa Technology Limited and is duly registered under the Laws of the Federal Republic of Nigeria with RC Number: 1594615.

Is my account and money insured?

No one wants to wake up one morning and find that their business capital is all gone. Yes, your account and money is insured up to the NDIC limit. Prospa works with NDIC-insured banks to store your deposits, namely Providus Bank and Alpha Kapital Microfinance Bank.

How much is the fees and charges to use Prospa ?

It is totally free to open a Prospa account. They do not charge an account opening fee and they do not require you to maintain a monthly minimum balance. you can find more information about their charges on their website.

What documents do I need ?

if your business is already registered with the CAC and you have your TIN, you can can easily provide them and continue, if your business is unregistered however, Prospa will help with registration. either ways, here are the documents you will need:

BVN
Certificate of incorporation
CAC registration forms
Valid government issued ID for directors (International Passport, Drivers licence, Voters card, National I.D card)
TIN number (We can help with this)
Proof of address (Utility bill)
Board resolution (you can generate from your Prospa dashboard)
2 References (You’ll have extended time to provide this)

who owns Prospa App?

Prospa is owned by the parent company Prospa Technology Limited and their head office is located at No. 4b Fatai Idowu Arobieke, Lekki Phase 1, Lagos, Nigeria.

contact and customer care number?

if you have the need to reach out to Prospa customer care line, send your email to [email protected]. or call their phone number on (234) 1 252 0227.