Spleet is a technology company.
Spleet has raised $3.6M across 2 funding rounds.
Spleet has raised $3.6M in total across 2 funding rounds.
Spleet has raised $3.6M in total across 2 funding rounds.
Spleet's investors include 8090 Industries, 8VC, Chapter One Ventures, Craft Ventures, Creandum, Eunoia Capital Partners, Fika Ventures, Flucas Ventures, Lakestar, LGF, MaC Venture Capital, MetaProp Ventures.
Spleet is a Nigerian proptech startup founded in 2018 that operates as a subscription-based living platform, partnering with apartment owners to list properties and enabling renters to pay rent flexibly on daily, monthly, quarterly, or biannual terms.[1][2][3][4] It serves tenants seeking affordable access to premium residential spaces in high-cost markets like Lagos and landlords needing automated rent collection and tenant verification, solving the widespread problem of advance annual rent payments that burden renters in Nigeria.[1][3] Additional products like Collect (automated rent receipt) and Verify (tenant background checks with KYC) enhance its offerings; the company has processed over $3.5 million in rent, onboarded 35+ landlords, and housed 1,000+ tenants with an average lifetime value of 26 months, despite 68,000+ unfulfilled requests signaling strong demand.[1]
Spleet emerged from the personal challenges of its co-founders, Dolapo Adebayo and Akintola Adesanmi, who met in 2018 after Adebayo returned to Nigeria from the U.K. and struggled to find an apartment amid rigid annual rent demands.[1][3] Adesanmi, with years in Nigeria's banking and fintech sectors plus a family real estate background, provided crucial landlord networks to launch listings; this enabled proper tenant verification and automated collections from day one.[1] The duo bootstrapped for 18 months, achieving solid unit economics, before raising $265,000 from family and friends, which fueled early traction as a four-year-old startup by 2022.[1]
Spleet rides the proptech wave in Africa, where high upfront rents (often a year's worth) exclude middle-class renters amid urbanization and housing shortages in cities like Lagos.[1][3] Its timing aligns with rising fintech adoption for payments and verification, transforming real estate into a subscription service akin to global models like WeWork or flexible leasing apps.[1][3] Market forces like Nigeria's young population, real estate family networks, and investor interest (e.g., $2.6M from MaC VC in 2022) favor expansion, while Spleet influences the ecosystem by introducing KYC standards and automation, potentially lowering default risks and boosting formal rental markets.[1]
Spleet is poised to scale beyond Nigeria into pan-African markets, capitalizing on urbanization and fintech growth to fulfill its 68,000+ waitlist through more listings and product expansions like enhanced Verify or Collect.[1] Trends in subscription economies, embedded finance, and affordable housing will shape its path, potentially evolving it into a full fintech-proptech powerhouse with corporate partnerships. As demand outstrips supply, expect aggressive funding and geographic pushes, solidifying its role in democratizing premium living for Africa's renters.
Spleet has raised $3.6M across 2 funding rounds. Most recently, it raised $3.0M Seed in October 2022.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2022 | $3.0M Seed | 8090 Industries, 8VC, Chapter One Ventures, Craft Ventures, Creandum, Eunoia Capital Partners, Fika Ventures, Flucas Ventures, Lakestar, LGF, MaC Venture Capital, MetaProp Ventures, Next47, Oak HC/FT, Roosh Ventures, Seven Seven Six, Social Capital, Sound Ventures, The Hit Forge, Thirdbase Capital, Tribe Capital, Weekend Fund, WorkLife Ventures, Aaron Block, Austin Ogilvie, Bradley Horowitz, Jeff Morris, Jeff Seibert, Jim Pallotta, Jon Runyan, Marc Benioff, Michael Ma, Peter Ackerson, Ryan Chan, Sahin Boydas, Shervin Pishevar, Sung ho Choi, Valentin Gui, Wayne Chang | |
| Mar 1, 2022 | $630K Seed | Accel, Anvaya Ventures, MetaProp Ventures, Sequoia Capital, Aaron Block, Larry Braitman, Lawrence Braitman |