For an average Nigerian youth, admission into a higher institution is the ultimate educational aspiration.
However, most freshmen set out for life on campus thinking it would be glitz and glamour all the way.
In reality, they are faced with the rancour of settling into the new way of life. Before long, they have to find a balance between staying financially afloat and keeping up with hectic course work. However, in the social media age, a solution has been created to give students financial freedom.
By combining e-commerce with social media, Fourwalls created a mobile application that caters to the educational and social deficiencies of an average college student while ensuring that they earn money. Fourwalls is simply an online marketplace for students.
In an interview with one of the co-founders, Adedamola Onamade Osinloye, he says, “Seeing how nobody really cares about the perks of college life, we conceived Fourwalls to allow students buy, sell and trade items amongst themselves.”
The platform, which will be formally launched in a few days, aim to provide necessities for students at a cheaper rate. “For instance, an item (say a book or pressing iron) disposed by a student may just be what another student (perhaps a freshman) in the same college is looking to purchase,” says Adedamola. This presumably, will enable students to earn some cash on items they do not need while giving them the opportunity to learn first-hand, how to run a small business.
Fourwalls offer special features such as in-app messaging, offers and counter-offers, location tracking, seller and buyer reviews among others. In addition to that, they claim to offer users up to seven free posting allowance per month.
While Fourwalls is primarily focused on students, the idea is a not entirely a novelty. With already existing competitors, such as Jiji and Olx, it may not be a walk in the park. The company may have to work harder to wean many Nigerian students off the existing platforms. However, Fourwalls hope to leverage on ‘student neglect’, which is supposedly common on other sites.
Nigerian startups raised $17.6m in Q1 2019, 8.5% higher than they did in Q1 2018. Find out more in the latest quarterly edition of the Nigerian Startup Funding Report here.