Proshare

What Proshare does

Proshare (Proshare LLC) is a Nigeria-based financial research and information services firm founded in 2006 by Olufemi Awoyemi and headquartered in Ikeja, Lagos, with technical operations in India (since 2015) and IT support in Canada (since 2015). The company operates the Proshare.co platform — a Cloudflare-hosted service running on Microsoft AspNet Core with native Android and iOS apps — aggregating real-time data from the Nigerian Exchange (NGX), NASD, FMDQ OTC Exchange, and AFEX, complemented by proprietary indices (Proshare INDEX, SAMAD, Gote, Toni) and an Economic Dashboard. The product surface includes Data Central, Report Central (a research marketplace), WebTV (daily video programming since 2020), a podcast, and the Beta-stage #AskProshare AI chatbot (2024).

The business serves individual investors, quoted corporates, regulators and government agencies, market operators, and MSMEs, delivering Impact Research, Market Intelligence, Strategic Advisory, Stakeholder Relations, and Digital Media Services alongside a content library of 18+ years. Revenue is generated through six streams: individual subscriptions ($5/month or $25/year premium), corporate subscriptions (custom multi-year contracts), one-time report sales via Report Central, advertising and sponsorship, donations (a signal that core revenue is insufficient), and professional services fees. GTM is hybrid — a self-serve freemium digital platform for individuals, paired with direct corporate sales via [email protected] for enterprise contracts.

Proshare is privately held with no disclosed external funding rounds, transitioning in 2021 from founder-led to shared leadership. Its competitive position rests on long-standing institutional relationships (founding member of FintechNGR, NBS partnership since 2017, Technical Advisor to the National Assembly House Committee on Capital Markets), a multi-channel distribution footprint, and a deep archive of Nigerian capital-market research. The company underwent a 2023 turnaround to align with global digital/privacy/governance standards and in 2024 relaunched its subscription business with AI/ML capabilities.

Name

Proshare

Legal name

Proshare LLC

Website

https://proshare.co

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Proshare is a Nigerian financial research and market intelligence firm operating the Proshare.co platform with real-time NGX/NASD/FMDQ/AFEX data, proprietary indices, WebTV, Report Central marketplace, and an AI chatbot, serving individual investors, corporates, regulators, and market operators across Nigeria.

Ownership category

akta.pro rank

Product category

Financial Research & Market Intelligence

NAICS

Marketing Research and Public Opinion Polling (541910), Software Publishers (513210), Marketing Research and Public Opinion Polling (54191)

SIC

Investment Advice (6282), Services-Computer Processing & Data Preparation (7374)

akta.pro primary industry

Prediction Markets & Information Finance (FSADAMAJ)

akta.pro secondary industry

Software/SaaS Subscriptions (Consumer & Prosumer) (CRAFAIAB)

Keywords

• Financial market data
• Investment research
• Market intelligence
• Capital market analysis
• Economic research

Headquarters

HQ city

Ikeja

HQ country

Nigeria

HQ region

Africa

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Revenue model

1. Individual Subscriptions: Freemium model with Premium tier at $5/month or $25/year providing access to Analysts' Notes, Paid-for Reports, Podcast, Market Intelligence, Stock Picks, #AskProshare AI (Beta), and Exclusive Newsletter.
2. Corporate Subscriptions: Customized subscription plans for corporate entities and market operators with dedicated support and potential discounts.
3. Report Sales: Sale of research reports through Report Central marketplace, including Proshare Reports and third-party reports covering Nigerian economy, capital markets, sector reports, and analyst equity reports.
4. Digital Media Services - Advertising & Sponsorship: Promotional and sponsored posts across web, email, mobile and social media platforms. Advertising services across platforms.
5. Donations: Accepts donations from market stakeholders to sustain independent private sector intervention role in Nigeria's financial markets. Options for USD and NGN donations, one-time or recurring.
6. Professional Services: Fees for Market Intelligence Services, Strategic Advisory Services, Stakeholder Relations Services, and Digital Media Services including event management, editorial services, and syndications.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Proshare operates a digital financial research and market intelligence platform (proshare.co) covering the Nigerian capital market and economy. It delivers real-time market data (Data Central), curated and third-party research reports (Report Central), daily video programming (WebTV), podcasts, and a mobile app, alongside professional service offerings including impact research, market intelligence, strategic advisory, stakeholder relations, and digital media services. The platform runs on a freemium-to-premium subscription model with separate corporate engagement for advisory and syndicated intelligence work.

Product overview

Proshare is a professional practice offering a unified digital platform plus modular service offerings. The core product is the Proshare.co platform providing integrated access to Data Central (market data dashboard), Report Central (research marketplace), WebTV (video content), Exchange Rates Dashboard, and the Proshare Podcast. The platform operates on a Freemium/Premium subscription model with corporate plans also available. Additional offerings include Impact Research (analyst reports), Market Intelligence Services, Strategic Advisory, Stakeholder Relations & Issues Advocacy, and Digital Media Services. The platform was relaunched in 2024 with AI/ML capabilities including the #AskProshare AI chatbot feature.

Differentiator

Problem solved

Functional benefit

Brands

• TheAnalyst™: First-ever subscription-based data, analysis and news portal dedicated to the Nigerian capital market
• WebTV™
• ReportCentral™
• PersonalFinance™
• #AskProshare AI
• CoronaWatch Central

Products and services

• Proshare.co Platform Primary digital platform delivering research, market intelligence, strategic advisory, stakeholder relations, and digital media services to bridge the gap between investors and markets in Nigeria.
• Data Central Comprehensive market data dashboard providing real-time Nigerian market data including equities (NGX, NASD), money and debt markets (FMDQ), exchange rates, commodities, and sector indices with interactive charts and heatmaps.
• Report Central Marketplace aggregating quality research reports from leading institutions, including Proshare's own reports and third-party research for investors and market stakeholders.
• Exchange Rates Dashboard Daily exchange rate dashboard providing NFEM and BDC rates for USD, GBP, EUR, CAD, and CNY against Naira with historical charts, currency calculator, and conversion tools.
• Premium Subscription Paid subscription tier at $5/month or $25/year providing access to Analysts' Notes, Paid-for Reports, Podcast, Market Intelligence, Stock Picks, Data Central, Exchange Rate dashboard, Economic Dashboard, and #AskProshare AI for individual investors.
• Freemium Subscription Free tier providing limited access to platform features including basic news articles and public content.
• WebTV Digital television service providing daily visual programming covering economy, business, financial markets, and Islamic Finance through video content including Fireside Conversations, WebTV Focus, CEOs Talk, Interviews, and Conference coverage.
• Proshare Mobile App Mobile application available on Android and iOS providing platform access on mobile devices.
• TheAnalyst Podcast Audio content including TheAnalyst Podcast providing financial and market analysis in podcast format, available to Premium subscribers.
• Impact Research High-impact research function delivering thought-led reports including Annual Economic Review, Capital Market Reports, Tier 1 Banks Report, Online Trading Reports, and CEO Remuneration Report; plus Economic Impact Assessment and Policy Impact Assessment.
• Market Intelligence Services Market intelligence function covering gathering, processing, analyzing, and articulating economic and financial information into insights including Economic and Market Intelligence, Regulatory Action Response Guide, and Due Diligence services.
• Strategic Advisory Services Strategic economic, financial, market and regulatory advisory covering Strategic Issues & Advisory, Financial Consulting Services, Governance & Board Support, and Partnerships & Collaborations.
• Stakeholder Relations and Issues Advocacy Data-led articulation of positions improving decision-making at corporate, subnational, and national levels; including Client Issue Articulation, Investor Relations Support, and Issues Campaign/Gatekeeping services.
• Digital Media Services Media engagement services including Digital Broadcast, News and Newsletter, Editorial (OpEds, Rapporteur Report, Moderating, Book Review), Promotional/Sponsored Posts, Event Services, Syndications & Sponsorships, Advertising, and Subscriptions.
• Corporate Subscription Plans Customized subscription plans for corporate entities and market operators with dedicated support, multi-year contracts, and potential discounts, accessed via [email protected].
• #AskProshare AI AI-powered question and answer service (in Beta Zone) that processes natural language queries about Nigerian markets, economy, business, finance, regulation, MSMEs, and technology for Premium subscribers.
• TheAnalyst Portal Subscription-based data, analysis and news portal dedicated to the Nigerian capital market, launched in 2013 as the first such dedicated platform and later integrated into Proshare Markets.

Quantifiable outcome

• Over 1,700 partners including technology providers and data vendors integrated with the platform
• +1 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature4 records

Partnerships

13 partnerships are on record, tiered core and minor.

• Nigerian Exchange (NGX)coreStrategic or Co-development PartnerIntegration partnership providing real-time live feeds from Nigerian Exchange into TheAnalyst platform since 2014. Proshare serves as media partner for NGX events and initiatives.
• FMDQ OTC ExchangecoreStrategic or Co-development PartnerStrategic partnership as recognized media partner for FMDQ OTC Exchange. Collaboration on market development and professional standards in fixed income and OTC markets.
• NASD (Nigerian Alternative Trading System)coreStrategic or Co-development PartnerData partnership providing access to NASD unlisted securities data through Proshare's Data Central platform.
• AFEX (AfriCultivating Exchange)coreStrategic or Co-development PartnerData partnership providing commodity market data including cocoa, maize, soybeans, cashew, and paddy rice prices to Proshare's Data Central platform.
• Fintech Association of Nigeria (FintechNGR)coreStrategic or Co-development PartnerFounding member of the Fintech Association of Nigeria. Olufemi Awoyemi served as founding Governing Council member. Proshare deployed resources and expertise in ideating and strategizing the take-off of FintechNGR and continues to strategically contribute to the Association's growth.
• African Fintech Network (AFN)coreStrategic or Co-development PartnerOlufemi Awoyemi serves as Trustee of the African Fintech Network, a network of thirty-five fintech associations across Africa. Proshare contributes to thought leadership and strategy development across the African fintech ecosystem.
• National Bureau of Statistics (NBS)coreStrategic or Co-development PartnerPartnership for production and dissemination of National Bureau of Statistics Reports since 2017. Proshare collaborates on statistical data publication and distribution.
• Securities and Exchange Commission (SEC)coreStrategic or Co-development PartnerOlufemi Awoyemi served as Technical Advisor to the National Assembly House Committee on Capital Markets. Engagement with SEC on FinTech Roadmap and capital market development initiatives.
• Chartered Institute of Directors Nigeria (CIoD)coreStrategic or Co-development PartnerOlufemi Awoyemi serves as Chairman of the CIoD Financial Services & Capital Markets Committee since 2019. Collaboration on corporate governance standards and professional development.
• Association of Investment Advisers & Portfolio Managers (IAPM)coreStrategic or Co-development PartnerOlufemi Awoyemi serves as Governing Council Member and Vice-President of IAPM. Collaboration on investment adviser professional standards and market development.
• Association of Corporate and Individual Investment Advisers (CIIA)coreStrategic or Co-development PartnerOlufemi Awoyemi serves as Governing Council member of CIIA. Partnership for investment adviser professional standards development.
• Nigerian-British Chamber of Commerce (NBCC)minorStrategic or Co-development PartnerCorporate membership and participation in NBCC events including golf tournaments. Multiple recognition awards received for contributions to NBCC initiatives.
• Lagos Business School (LBS)minorStrategic or Co-development PartnerInstitutional membership in Lagos Business School community for professional development and thought leadership collaboration.

Scale indicators4 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Nairametrics: Nigeria-focused financial news, data, and research platform covering capital markets, economy, and business intelligence for retail and SME audiences—directly comparable to Proshare's individual subscription and content focus.
• BusinessDay Nigeria: Daily Nigerian business newspaper providing market data, sector reports, and analysis of Nigerian financial markets; competes with Proshare for the same professional and investor audience segments.
• TheCable: Nigerian investigative and business news publisher covering economy, finance, and capital markets—overlaps with Proshare's business news, economic analysis, and policy commentary functions.

Broad incumbents

• Bloomberg: Global financial data, analytics, and news platform serving institutional investors; the dominant broad incumbent that Nigerian institutional subscribers and Proshare's corporate tier are benchmarked against.
• LSEG (Refinitiv): Provider of financial market data, analytics, and workspace products (Eikon/Refinitiv) used by professional investors globally; competes in the same enterprise market-intelligence category with broader asset-class depth.
• Morningstar: Global investment research and data firm offering analyst reports, ratings, and market data; comparable to Proshare's investment research and stock-pick offerings at a global scale.
• S&P Global Market Intelligence: Provider of cross-asset market data, indices, and research used by institutional investors; competes with Proshare's enterprise data and research subscriptions, with established index and analytics infrastructure.

Regional players

• Africa Intelligence: Subscription-based intelligence service covering African corporate, financial, and political affairs—overlaps with Proshare's market intelligence and strategic advisory offerings but with a pan-African scope rather than Nigeria-only.
• The Africa Report: Pan-African business and economic news magazine covering markets, policy, and finance—operates in an adjacent information-finance niche with comparable subscription and editorial approach but wider geographic breadth than Proshare.
• Premium Times Nigeria: Nigerian news publication with dedicated business and economic sections covering capital markets, policy, and corporate affairs—adjacent competitor for Proshare's news and economic analysis audience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/proshare
• YouTubeyoutube.com/user/proshare2
• Facebookweb.facebook.com/proshare.co
• LinkedInlinkedin.com/company/proshareco
• Instagraminstagram.com/proshare.co

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Proshare