Building Fintech's Invisible Engine: How One Engineer Empowered 100K African Entrepreneurs

Prospa, a Y Combinator-backed fintech startup based in Nigeria, has emerged as a critical infrastructure provider for over 100,000 small businesses across Africa, offering a range of integrated financial tools and services. The company’s operations have been significantly shaped by Olamide Ilori, the Lead Engineer responsible for developing key internal systems and platforms that enable the startup’s rapid growth and scalability. Ilori’s contributions include the design of a centralized operations dashboard and the consolidation of Prospa’s web and mobile offerings into a unified user experience.

Ilori joined Prospa in 2021, following the company’s $3.8 million pre-seed funding round. His primary focus has been to streamline the startup’s internal operations by creating a robust dashboard that integrates document verification, savings, loans, and virtual card management into a single interface. This approach has allowed Prospa to maintain efficient operations as it scales, supporting a growing user base of African entrepreneurs who require streamlined access to financial services.

Beyond internal tool development, Ilori has also led the redesign of Prospa’s web dashboard and the recent launch of Prospa v2, a major upgrade to the mobile app. These enhancements have been driven by a user-centric philosophy, where every feature is tied to addressing real-world challenges faced by small business owners. By focusing on solving practical problems rather than chasing technological trends, Prospa has become one of the most trusted platforms for business banking in Nigeria.

Ilori’s leadership extends beyond coding and product development. He emphasizes a culture of ownership and humility within the engineering team, actively engaging with junior developers to foster a collaborative environment. This approach has helped maintain psychological safety, encouraging innovation without fear of criticism. His mentorship and open-source contributions also extend to broader community efforts, including platforms like VEET and Developed for Good, where he supports aspiring developers in nonprofit projects.

Prospa’s broader mission aligns with Ilori’s vision of leveraging technology to empower African entrepreneurs. The startup aims to simplify financial processes for small businesses, offering banking, invoicing, and e-commerce tools to reduce the friction associated with traditional financial systems. Many of Prospa’s users are first-time entrepreneurs who require intuitive, accessible solutions rather than complex financial products. This focus on real-world utility has positioned Prospa as a key player in Africa’s fintech landscape, with the potential to influence the continent’s economic trajectory.

Looking ahead, Ilori is particularly interested in the role of artificial intelligence in fintech, particularly in areas such as chat-based transactions and intelligent automation. However, he cautions that AI should serve as a tool for solving practical problems rather than generating hype-driven innovations. His insights reflect a balanced perspective, grounded in the realities of African business ecosystems and the opportunities for digital transformation.

Source: [1] Meet Olamide Ilori of YC-backed Prospa (https://technext24.com/2025/09/02/meet-olamide-ilori-of-yc-backed-prospa/)