We are excited to announce that Spleet has raised $2.6 million in seed funding to scale its residential rent management and rent financing products. This raise led by MaC Venture Capital comes seven months after we announced a pre-seed round earlier in the year.
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.
Spleet was founded in 2018, and our mission was to build a marketplace to connect landlords with vetted tenants looking for flexible rent payment options. Since inception, we have processed millions in rent, housed over 1000 tenants and onboarded over 35 individual and corporate landlords.
According to our CEO, Akintola Adesanmi: "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."
In the coming weeks, we'll be expanding our product offerings 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.
We cannot wait to show you everything we've worked tirelessly on. We are only getting started. Keep up with us on social media @spleetafrica to be the first to find out about product updates, new features and other announcements.