Afrigather Staff on the Nigerian edtech say the corporate fired most of its staff on the Nigeria workplace amid plans to pivot.
Edukoya, the net studying platform which raised $3.5 million in 2021, in a pre-seed spherical led by Goal World might have laid off lots of its employees.
A former Edukoya worker advised TechCabal that the agency fired most of its workforce amidst plans to construct a brand new fintech service.
“The reality about Edukoya is that it’s shifting away from the main focus for the time being,” one former worker advised TechCabal, “In the mean time she [CEO Honey Ogundeyin] halted quite a lot of issues on the tutorial expertise facet,” the previous worker mentioned, including that a lot of the staff left on the agency are software program builders.
However Edukoya says it solely fired 4 staff following a quarterly worker efficiency assessment. In an electronic mail response to TechCabal, Edukoya mentioned that whereas it had “optimised” its groups, it was nonetheless hiring new staff and just lately employed a senior government from Byju’s, the Indian edtech headquartered in Bangalore.
Two former staff who spoke with TechCabal declare that not solely did the corporate let a number of of its employees go, it’s rebranding to Koya, a fintech for youngsters and youngsters.
One former worker mentioned Edukoya was already attending occasions with Koya branding. The occasion in query was this yr’s version of the TOTAL College Assist Seminar and Exhibition held earlier this month.
Edukoya denies this, saying it would “proceed to offer entry to high-quality schooling for the subsequent technology of Africans”.
No matter what Edukoya claims, this a lot is for certain, it’s, not less than, bundling a fintech product into its edtech providing.
Koya seems to be a fintech product for secondary faculty college students—the identical demographic as present Edukoya customers. The product seems to be a financial savings app plus debit card for school-aged youngsters which might assist “educate them cash abilities.”
A now-deleted touchdown web page, koyakids.com, described Koya as “the debit card and monetary studying app for teenagers and youths.”
Koya affords pay as you go debit playing cards and a financial savings app to youngsters between the ages of three and 18 for a month-to-month membership price of ₦2,500.
Edukoya was based in 2021 by Honey Ogundeyin, former nation director, UK-Nigeria Tech Hub. She was additionally the founding CMO at Kuda, one in all Nigeria’s main digital challenger banks.
Edukoya permits customers to assessment previous nationwide scholar exams without spending a dime on the app however expenses a price for college students who wish to be tutored. For instance, one in all their choices, a coding class, prices as much as ₦66,000 a month per learner.
On Friday, the twenty third of September, TechCabal in partnership with Moniepoint (by TeamApt) will host crucial gamers in tech and enterprise on and off the continent to debate the way forward for commerce in Africa. Register now to attend.
