Spleet, a property technology firm based in Nigeria, has successfully raised a seed round worth $2.6 million in order to develop its residential rent-focused products.
MaC Venture Capital was the lead investor in the seed round.
Ajim Capital, Francis Fund, Assembly Fund, Noemis Ventures, Plug and Play Ventures, and other angel investors are some other investors.
This round also included participation from Metaprop VC and HoaQ Fund, current investors from Spleet’s pre-seed round.
Tola Adesanmi founded the company in 2018 out of the necessity to discover rentals in Lagos with flexible payment plans as opposed to the customary one- or two-year upfront payment plans.
Spleet makes it possible for landlords to rent to certified people while also making it simple for people to locate someplace to stay.
The new company streamlines the vetting and verification processes for landlords and collects rent automatically.
Spleet has accommodated more than 1,000 tenants since its beginning, processed millions in rent, and signed up more than 35 private and corporate landlords.
Marlon Nichols, co-founder and managing general partner at MaC Venture Capital, declared: “The housing issue is a huge challenge that affects us on a worldwide basis, and Africa is no exception.”
“In nations like Nigeria, the demand that tenants pay 12- to 24-months’ worth of rent in advance provides a barrier for huge portions of the population to access the rental market, effectively making them homeless. MaC is honored to work with Spleet as it advances a holistic solution that benefits all sides of the housing market and truly contributes to the fight against homelessness.
According to Adesanmi, the funding would be used to expand our product offerings for tenants, real estate brokers, and landlords across Nigeria as well as to test out other markets.
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