NIGERIA – Spleet, a real estate technology startup, has successfully received a seed round of US$2.6 million to extend its residential rent-focused solutions across Africa.

The funding was spearheaded by MaC Venture Capital. Noemis Ventures, Plug and Play Ventures, Metaprop Venture Capital, HoaQ Fund, Assembly Fund, Ajim Capital, Francis Fund, and Eduardo Campos are some of the investors in this startup.

Additionally contributing were Paulo Buchicher and Maajed Chaaaraoui.

The company intends to put the cash toward the expansion of its product offerings across Nigeria for landlords, real estate agents, and renters, as well as the exploration of new market opportunities.

The startup has generated considerable traction since it was founded. The property management technology platform asserts it has handled more than US$3.5 million in rent payments and onboarded over 35 individual and corporate landlords; the latter kind of landlord displays many housing units at once.

Spleet has also provided housing for over 1,000 individuals, which may not seem like a large number; nevertheless, it is important to keep in mind that their average lifespan value is 26 months.

Over thirty per cent of the country’s population, or over 62 million individuals, have difficulty locating suitable housing.

In addition, 80 per cent of the population of Nigeria lives in informal housing, which is plagued by dwellings of poor quality and inadequate infrastructure.

As a result, Dolapo Adebayo and Akintola Adesanmi established Spleet in 2018 to resolve difficulties associated with accessibility and affordability in Nigeria and other African nations.

When a renter is looking for flexible rent payment options, Spleet has developed a marketplace to link landlords with pre-screened renters who are looking for housing. Additionally, it provides a variety of flexible leasing possibilities for people who are seeking accommodation.

In addition, the proptech company provides fully furnished living quarters that can be rented on a subscription basis to help those who are seeking homes and cut their monthly housing costs. The rent, the power, and the cleaning charges are all included in the service which also gives the possibility of co-sharing.

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