Seven months after announcing a pre-seed round earlier in the year, African proptech company Spleet has announced the completion of $2.6 million seed funding to scale its residential rent management and rent financing products in a round led by MaC Venture Capital.
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.
Existing investors from Spleet’s pre-seed round, Metaprop VC, and HoaQ Fund, also participated in this round.
Spleet was founded in 2018 with the mission of building a marketplace to connect 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.
Today, the proptech plans to expand its 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.
Akintola Adesanmi, the CEO of Spleet, says: “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.”
