Nigerian Prop-Tech Startup Spleet Plans Expansion Into Ghana, Rwanda and Kenya Territories

Nigerian-based prop-tech startup, Spleet is a subscription based, living solution that provides access to shared/entire living spaces with flexible payment options (daily, monthly & quarterly subscriptions). The startup has built a platform and partner with home owners who want to earn constant (recurring, monthly and quarterly subscriptions) revenue and home owners who want to earn non-recurring revenue (daily subscriptions, think AirBnB), for Africa, started in Nigeria and is now expanding to Rwanda, Ghana and Kenya as the startup moves in the direction of self-hosting for Nigerians who are travelling outside the country.

Founded in August 2017 from the need to find rentals with flexible payment options in Nigeria, Lagos which has a population of at least 24.6 million people and the city of is a difficult place to find an affordable apartment, as opposed to the usual one or two year upfront payment options, Spleet allows homeowners to rent out rooms to vetted individuals, while also helping people easily find places to stay.

The startup recently launched a host product for homeowners with spare rooms to manage their spaces, which will allow Airbnb-style self-hosting on its platform, and is looking at moving into new markets.

Chief Executive Officer (CEO) Tola Adesanmi in a recent interview with Disrupt Africa reiterated that Spleet was planning to expand to Ghana in the second quarter of 2021, and Kenyan and Rwanda in Q3.

“We intend to first seed those markets by initially working closely with property managers that currently manage spaces manually, with a focus on people visiting from Nigeria. This way we build a reputation before hitting the local market directly. The host product also gives potential hosts autonomy, and a sense of control over their earnings. Over the next few months, we’ll continue to iterate per customer feedback and our own product roadmap.”

He further noted that the host product will offer a potential host autonomy, with a leverage of control on their earnings. For the next few months in 2021, the startup also plans to iterate per customer feedback.

Currently in Nigeria, Spleet has seen positive uptake of its renters product, and currently has a 96% retention rate with its long stay spaces, and an average stay of 11 months. “Metrics like our current waitlist signal potential for more growth now that we have the hosting product,” Adesanmi said. After bootstrapping for 18 months, Spleet closed a US$265,000 pre-seed round in 2019 and is currently raising a seed round.