Automating fee collection, payroll, attendance, parent engagement & school loans for private schools across Africa
Nigerian Schools Run on Cash, Paper & Prayer
For School Owners / Bursars
- Manually tracking who paid fees — in notebooks and spreadsheets
- No real-time visibility into school cash flow
- Cash handling creates theft risk and accounting errors
- Payroll is manual: salaries, deductions, transfers one by one
- End of term = weeks of chasing parents for outstanding fees
For Parents
- No transparency into whether fees were correctly applied
- No idea if their child arrived at school safely
- Communication with school is fragmented (calls, paper notes)
Existing Solutions Make It Worse
- Competitors force separate accounts per child or per parent — parents with 3 kids juggle 3 accounts, 3 logins, 3 payment flows
- Schools need multiple vendor systems that don't talk to each other
One Platform. Every School Transaction.
One account per school. One account per parent — regardless of how many children they have. Simple.
Fee Collection
Parents pay via bank transfer. AI automatically matches payments to students. Net funds settle to school daily.
Payroll
Full salary management: structures, monthly runs, advances, deductions, bank payouts, payslips — automated.
Attendance (NFC)
Students tap NFC cards at the gate. Parents get instant WhatsApp/SMS: “Your child arrived at 7:45am.”
Tuckshop Wallet
Students tap to pay at the canteen. PIN security, daily spending limits, full parent oversight.
WhatsApp AI Assistant
Parents chat with an AI bot to check attendance, payments, outstanding fees — 24/7, natural language.
Expenditure & Transfers
Schools manage outgoing payments with approval workflows and a full audit trail.
School Loans Coming
Data-backed credit scoring from transaction history enables working capital loans for schools. Repayment is automatic — deducted from next term’s fee collections.
The Fundtrak Loop
Every morning:
Early Results That Prove Product-Market Fit
God's Blessing Academy
Committed, onboarding soon
What This Proves
- Real money flowing through the platform — not a prototype
- Organic demand: 3 schools approached us, not the other way around
- Capital-efficient: built by a lean technical team, self-funded
- Trust established: schools entrust their primary revenue stream to the platform
A Massive, Underserved Market
Why Now
- WhatsApp penetration at critical mass in school communities
- NFC hardware costs dropped 80% in 5 years
- CBN cashless economy push aligns perfectly with our model
How We Make Money
Transaction Fees
1.5% capped at ₦650 per fee payment
Sterling takes 1% capped at ₦100
Net: ₦550/transaction
Gate / NFC Attendance
₦1,500 per child per term
Auto-deducted weekly from parent balance
Recurring, predictable
Payroll Processing
₦25 per transfer for salaries >₦50K
Automated monthly payroll runs
Grows with staff count
Phase 2 Revenue: School Working Capital Loans
How it works: Schools access working capital loans (avg ₦5M) mid-term. Loan + 5% interest is automatically repaid at the start of next term when parent fees flow in.
Revenue: ₦250K per loan · 3 terms/year · 30% uptake → ~₦750K/school/year
Low risk: Fundtrak controls the fee collection pipeline — repayment is built into the payment flow.
Deposit Float: Schools hold funds for payroll & expenditure — additional yield revenue.
₦99M transaction fees + ₦90M gate fees + ₦500K payroll · School loans add ~₦750K per eligible school/year
A Financial OS, Not a School Admin Tool
| Feature | Fundtrak | EduBanc | Edves | FlexiSAF |
|---|---|---|---|---|
| Automated fee collection | ✓ | Partial | Partial | ✕ |
| AI payment matching | ✓ | ✕ | ✕ | ✕ |
| Single account per school | ✓ | ✕ | ✕ | ✕ |
| Real-time daily settlement | ✓ | ✕ | ✕ | ✕ |
| NFC attendance + parent alerts | ✓ | ✕ | ✕ | ✕ |
| WhatsApp AI chatbot | ✓ | ✕ | ✕ | ✕ |
| Tuckshop wallet (NFC) | ✓ | ✕ | ✕ | ✕ |
| Full payroll management | ✓ | ✕ | Partial | ✕ |
| School working capital loans | ✓ | ✕ | ✕ | ✕ |
From 1 School to 40 in 18 Months
Prove
- Deploy at God’s Blessing Academy
- Process ₦200M+ in real transactions
- Validate product with real users
- Collect testimonials & data
Expand Oyo State
- Onboard 3 committed pipeline schools
- Leverage NAPPS for warm intros
- Target 10–15 schools in Ibadan
- Launch school-to-school referrals
Scale Southwest
- Expand to Lagos, Ogun, Osun
- Target 30–40 total schools
- Hire dedicated sales/BD team
- Launch school loan product
Ayomide Fajobi
Deep Banking & Fintech Engineering Expertise
+ Cryptocurrency platforms · Call center technology · Runs a tech company with engineering team · Self-funded ₦15–20M over 3–4 years
Technical Depth
Led engineering of the full platform — API, AI, NFC, WhatsApp bot — with his tech company
Banking DNA
Enterprise-grade compliance, settlement, reconciliation experience
Domain Access
Active NAPPS member with direct school owner relationships
Skin in the Game
Self-funded for years before seeking external capital
Pre-Seed Round
Use of Funds
+ Loan capital reserve for school working capital loans (revolving)
18-Month Milestones
Every School in Africa.
Every Payment. Every Child.
Tracked.
The default platform for Nigerian private school finances
Expand across West Africa — Ghana, Kenya, South Africa
Build the data layer that enables school financing, insurance, and education credit scoring
fundtrak.com