Launched through NovaGrad, its education access platform, the scholarship is part of what the company calls its Next Chapter initiative, combining direct financial support with application guidance for students seeking postgraduate study abroad.

Prodigy Finance has funded postgraduate students at leading universities for years with its scholarship focus changing from one region to another.

In previous cycles, it targeted India and Latin America, alongside more established markets. This time, the attention is on Africa.

The company says it has learned from years of working with students. Funding is essential, but guidance also impacts outcomes. Many applicants find it difficult to organise their choices, meet deadlines and manage visa and funding requirements at the same time.

NovaGrad was set up to bring those steps into one place, from shortlist to enrolment.

Demand for international degrees is growing. At the same time, costs are increasing and timelines are tight. Students constantly need to secure funding quickly after receiving an offer. This scholarship is designed to support them at that stage.

There are two parts to the support package.

First, 10 students will receive up to $2,500 each to cover tuition and living costs. Priority will go to candidates who show strong academic merit, proof of financial need and a realistic shortlist of universities.

Applicants must complete their submissions through NovaGrad before the stated deadline. Shortlisted candidates may need to provide extra documents to confirm eligibility before funds are released.

Second, 100 students will qualify for application fee reimbursement of up to $200 each. This applies only to university applications submitted through NovaGrad. Once the platform verifies and accepts the submission, the reimbursement will be processed. Applications made outside NovaGrad will not qualify.

Students are required to register or log in on the platform, enter a valid waiver code where applicable, and submit their university applications through it.

Sonal Kapoor, global chief business officer at Prodigy Finance, said, “African students have consistently demonstrated exceptional ambition and academic strength. Over the years, we have seen students from across the continent succeed at some of the world’s top institutions. This scholarship gives them a focused opportunity, and NovaGrad helps bring clarity to every step around it.”

Mariana Alcocer, spokesperson for NovaGrad, added, “African students are among the most talented we see, yet many still lack the exposure or networks that help others access global education. This programme is about recognising that talent and creating a pathway forward.”

Applicants may also upload a short video on social media explaining why they deserve the scholarship and tag NovaGrad. Thoughtful submissions will earn additional points and families, friends and professional networks are encouraged to share the videos to broaden visibility.

Applications are now open through NovaGrad. Prodigy Finance says the goal is to ensure access to global education depends on merit and ambition, not geography.

Being its fourth expansion in less than a year, this expansion stresses the company’s vision to be the go-to platform in a sector it values at over $30 billion annually.

With operations now in Kenya, Nigeria, Uganda, Rwanda, Zimbabwe, Burundi, and Tanzania, Craydel is targeting a fast-growing market of more than 400,000 African students who pursue studies abroad each year. 

The company argues that despite rising demand, many learners still face fragmented guidance and lack transparent support in choosing higher education opportunities.

“Across Africa, students face the same challenge: limited, biased advice from a fragmented agent system,” said Craydel’s co-founder and CEO, Manish Sardana. “At Craydel, we’re flipping that model, putting control back in learners’ hands with seamless access to the tech to search, match, and apply to their best-fit universities. With proven playbooks for new market expansion, we’re scaling fast, with the learner always at the centre.”

Founded in 2021 by Sardana alongside John Nguru (CTO) and Shayne Aman Premji (CFO), the startup has raised more than $2.5 million in venture funding from investors including Enza Capital and Angaza Capital. Its platform is free to learners but generates revenue from universities that pay commission for successful student enrollments.

The company’s key feature is its “University Matchmaker,” a tool that uses psychometrics, academic performance, budget, and career aspirations to recommend suitable institutions. This approach is designed to bypass traditional education agents, offering personalised and bias-free results.

Craydel’s expansion strategy is underpinned by local partnerships and regulatory navigation, a model it believes gives it an edge over global competitors like ApplyBoard of Canada and Australia’s IDP Education, which have long dominated international student recruitment.

“Our expansion to Burundi and Tanzania is part of our journey to deploy the Craydel platform across Africa,” Sardana added.

With Africa’s education sector being impacted by a youth-heavy population (with over 60% under the age of 25) and a growing appetite for international qualifications, Craydel’s timing is just right. Nonetheless, career counselling and reliable university placement remain scarce in many parts of the continent.

Craydel is scaling to also expand its workforce, with fresh hiring rounds underway in Nigeria and Kenya. The company has revealed that more market launches are on the horizon as it pushes toward profitability.