In Nigeria, only 30% of parents are able to pay for private school fees up front, while 70% of schools experience a cash flow deficit from the first day of term.
Schoolable believes that access to affordable finance is the greatest barrier to quality education in Africa. They built Schoolable - to make finance accessible across the education ecosystem in Africa, supporting both families and schools in the process.
Schoolable brings all the services needed to facilitate affordable, accessible finance in one place. They help parents plan, save, borrow and pay for school fees through their mobile app, and help schools collect fees, manage their expenses and bank online, through their web platform.
Schoolable offers end-to-end transaction, credit and financial management for schools, creating education savings accounts and payment plans for parents, as well as loans to schools for capital improvements and other large purchases.
Schoolable is looking to partner with financial services companies and educational institutions across Africa.