Nigerian Proptech Startup, Spleet Raises $2.6m in Seed Funding Led by MaC Venture Capital

Proptech startup Spleet has secured $2.6 million in seed funding led by MaC Venture Capital, with participation from existing investors Metaprop VC, and HoaQ Fund.

This round welcomed several other investors, including Noemis Ventures, Plug and Play Ventures, Assembly Fund, Ajim Capital, Francis Fund, and other angel investors, including Proptech operators; Eduardo Campos and Paulo Buchicher of Yuca, Maajed Chaaaraoui of Insurami.

Founded in 2018, Spleet is a technology-driven real estate investment platform that connects landlords with vetted tenants looking for flexible rent payment options. Since its inception, Spleet has processed millions in rent, housed over 1000 tenants and onboarded over 35 individual and corporate landlords.

The real estate investment platform will use the capital to scale its platform across geographies and real-estate asset classes by expanding distribution channels and investing in technology and people.

“Our solution on the tenant side was a no-brainer. It was the landlords who needed convincing, but it helped that we already had a network of landlords,” said CEO Adesanmi. “So instead of going out and raising venture capital, we decided that we were going to bootstrap because we could convince some landlords to list their homes on this platform that we had built and de-risk some of their problems.”

According to the CEO of Spleet, Akintola Adesanmi, the funding would go into deepening our product offerings for Landlords, real estate agents and tenants across Nigeria and testing out new markets.

The company will also focus on utilising technology to improve customer platform-user experiences by increasing liquidity, adding more product lines, and bolstering investor relations.

Silas Ugochi

Silas Ugochi is a Staff Writer and Content Creator at GetFundedAfrica. Ugochi is an educated content writer who relishes using her skills to help GetFundedAfrica's Media Team achieve the goal of sharing the success stories of African entrepreneurs. When she isn't writing articles, she can be found listening to music, reading, or DJing.

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