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§ Private Profile · Lagos, Lagos, Nigeria
Spleet is a technology company.
Spleet is a proptech company offering flexible living solutions and efficient rent management across Africa. Its platform provides tenants vetted apartments with adaptable payment options, including monthly plans and rental financing. Spleet also equips landlords with tools for streamlined rent collection and property oversight.
Founded in August 2017 by CEO Daniella Ajala, Spleet addressed the acute need for flexible rental payments in Lagos, Nigeria. Pervasive demand for upfront rent created significant barriers. Ajala’s insight developed a system offering tailored payment structures, democratizing housing access and ensuring consistent landlord income.
Spleet serves tenants seeking adaptable, affordable housing and landlords needing efficient property management. The platform aids individuals and property owners across African cities, fostering easier home access and improved portfolio oversight. Its vision ensures fair, efficient, affordable living, transforming the rental experience.
Spleet has raised $3.6M across 2 funding rounds.
Spleet has raised $3.6M in total across 2 funding rounds.
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 in total across 2 funding rounds.
Spleet's investors include MaC Venture Capital, 8090 Industries, 8VC, Chapter One Ventures, Craft Ventures, Creandum, Eunoia Capital Partners, Fika Ventures, Flucas Ventures, Lakestar, LGF, Next47.
Spleet has raised $3.6M across 2 funding rounds. Most recently, it raised $3.0M Seed in October 2022.