- Nigerian proptech startup, Spleet, has raised a $2.6 million seed to expand its residential rent-focused products throughout Africa.
- MaC Venture Capital led the round. Noemis Ventures, Plug and Play Ventures, Metaprop VC, HoaQ Fund, Assembly Fund, Ajim Capital, Francis Fund, Eduardo Campos Paulo Buchicher, and Maajed Chaaaraoui also took part.
- The company plans to use the funds to expand its product offerings for landlords, real estate brokers, and tenants across Nigeria and to explore other markets.
Over 30% of Nigerians, or nearly 62 million people, struggle to find accommodation. Also, 80% of the Nigerian population reside in informal housing, beset by low quality and inadequate infrastructure.
Consequently, Dolapo Adebayo and Akintola Adesanmi launched Spleet in 2018 to address issues with accessibility and cost in Nigeria and other African countries.
Spleet launched a marketplace in 2019 to connect landlords with pre-screened tenants when a renter seeks flexible rent payment choices. It also gives those looking for housing flexible rental options.
Moreover, the proptech offers completely furnished subscription-based living spaces to assist those looking for housing and lower their living expenses. The service that also provides co-sharing possibilities includes rent, electricity, and cleaning costs.
Spleet claims that since its launch, it has handled millions of dollars in rent, sheltered more than 1000 tenants, and signed up more than 35 private and corporate landlords.
Spleet plans to add Verify, Rent Now Pay Later, and Collect to its list of available products.
Collect is a tool that automatically collects rent payments on behalf of landlords. While Verify is a tool that helps landlords and real estate agents to screen and do proper background checks on renters before granting lease agreements, Rent Now Pay Later is a no-collateral, low-interest rental loan product.