Spleet Raises $2.6m In Seed Funding

Spleet has raised a $2.6m in a funding round led by MaC Venture Capital.

The Nigeria-based startup will use the funds to scale its residential rent management and rent financing products.

In a post published on the company's Linkedin page, Spleet said it will also launch a suite of products imminently, including a rent collection service for landlords, and a tenant vetting and background check tool.

Spleet will also launch a "rent now, pay later" loan facility for cash-strapped tenants—a common problem in Nigeria, where tenants are often required to pay up to 24 months of rent in advance—to remove barriers in the market.

CEO Akintola Adesanmi said:

"This funding will go into deepening our product offerings for Landlords, real estate agents and tenants across Nigeria and testing out new markets."

Spleet was founded in 2018 by Adesanmi with the goal of building a marketplace to connect landlords with vetted tenants. The company won Africa Proptech Forum Startup Competition against five other competitors in September, and has already housed 1000 tenants and onboarded 35 individual and corporate landlords.