Spleet Startup Raises $2.6 Million Seed Fund to Expand Its Property Management Products

Spleet, a Nigerian prop-tech startup that offers access to premium residential solutions, announced that it has raised a $2.6 million seed fund to scale its property management product.

According to the company, it disclosed that the funds raised will be used to expand its product offerings for landlords, real estate brokers, and tenants across Nigeria and to explore other markets in Africa.

It also plans to expand its product offerings to include ‘Collect’, a service that automatically receives rent payments on behalf of landlords, as well as ‘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. 

The seed round was led by Mac Venture Capital as well as several other investors such as 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 ofinsurami.

Speaking on the recent fund raised, the CEO of Spleet, 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.”

Since its launch in 2018, the proptech startup has handled millions of dollars in rent, sheltered more than 1000 tenants, and signed up more than 35 private and corporate landlords.

It should be recalled that on March 15, 2022, Investors King reported that Spleet raised $625,000 in an oversubscribed pre-seed round led by MetaProp VC.