Microtraction makes third investment in edtech startup, Allpro

by | Aug 16, 2018

Less than 24 hours after being unveiled as one of the pioneering startups to participate in female-focused tech accelerator, GreenHouse Lab, Allpro has gone on to secure its first venture funding from Microtraction.

The funding, which was announced yesterday, is around $15,000 going by Microtraction’s standard deals.

Allpro is building an end-to-end lending platform for schools in Nigeria. Their solution underwrites credit risks for lenders while making access to credit easy for various stakeholders in the school ecosystem (school owners, parents and teachers).

Allpro is founded in 2017 by Henry Nnalue, who formerly worked at various school management software companies and has 6 years’ experience in developing software solutions. Running Allpro alongside Henry is Angela Essien as the COO and co-founder.

She formerly worked as a network engineer at Ettetronics Nigeria Limited and likewise previously taught in various schools to fully understand the challenges they face.

The investment in Allpro is the third public deal Microtraction is involved in, after its investment in Cowrywise and Bitkoin Africa.

The educational sector in Nigeria is largely underfunded as only a small percentage of school owners have access to loans. Investment in Allpro is a good one as it will contribute a large part in addressing the challenges around education in Nigeria.

Ifeanyi Ndiomewese
Ifeanyi Ndiomewese

Ifeanyi is a desk reporter-turned administrator. Outside of work, I love to read and travel.

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