Nigeria’s Proptech Startup Spleet Secures $2.6 Million in Funding

Nigeria’s proptech startup Spleet has secured $2.6 million in a funding round led by Mac Venture Capital.

Other investors in this round include Noemis Ventures, Plug and Play Ventures, Assembly Fund, Ajim Capital, Francis Fund, Daba Finance and other angel investors, including Proptech operators; Eduardo Campos and Paulo Buchicher of Yuca, Maajed Chaaaraoui of insurami. Existing investors from our pre-seed round, Metaprop VC and HoaQ Fund, also participated in this round.

Founded in 2018 by Akintola Adesanmi, Spleet aims to build a future where everyone gets a fair chance at efficient and affordable living spaces.

Spleet will deploy the fresh funds into expanding its product offering to include Collect, a service that automatically receives rent payments on behalf of landlords; Verify, a tool that enables landlords and real estate agents to vet and carry out adequate background checks on tenants before offering lease agreements and Rent Now Pay Later, a no collateral, affordable-interest rate rental loan product.

Spleet in March raised $625,000 in a pre-seed round to offer rent financing and tenant verification solutions for Africans.

Commenting on the fresh fundraise, Spleet’s CEO, Akintola Adesanmi said, “This funding would go into deepening our product offerings for Landlords, real estate agents and tenants across Nigeria and testing out new markets.

“The housing crisis is an enormous problem that impacts us at a global scale, and Africa is no exception,” said Marlon Nichols, co-founder and managing general partner at MaC Venture Capital. “In countries like Nigeria, the requirement for tenants to provide 12 to 24 months of rent payment in advance creates a barrier for large parts of the population in accessing the rental market and essentially renders them homeless. MaC is proud to partner with Spleet as it continues to bring forward a comprehensive solution that effectively serves both sides of the housing market and makes true deposits to combating homelessness.”