Daba joins Spleet’s $2.6m seed round for affordable apartments
2 min Read October 4, 2022 at 3:25 PM UTC
daba Finance, a startup that enables investing in Africa’s best private and public companies seamlessly, has participated in a $2.6 million seed funding round by Nigeria-based Spleet, which provides residential rent management and financing products.
daba was launched in 2021 with a simple mission—to democratize investing in Africa by providing a barrier-free way for investors (of every level) to access curated investment strategies and build wealth by investing in the African private and public capital markets, through its all-in-one platform.
What is Spleet?
Spleet was founded in 2018, and its mission is to build a marketplace to connect landlords with vetted tenants looking for flexible rent payment options.
Spleet is one of the foremost startups disrupting Africa’s real estate and property market, which unlike industries such as financial services, has remained unchanged for decades. It has a focus on affordability, which remains a big pain point for residents in urban areas. This is partly because most tenants earn their incomes monthly and often find it difficult to afford the typical 1-2 years of advance rent demanded by homeowners.
Since its inception, Spleet has processed millions in rent, housed over 1,000 tenants with flexible payment options, and onboarded over 35 individual and corporate landlords.
According to Spleet CEO, Akintola Adesanmi, the funding will go into deepening its product offerings for landlords, real estate agents, and tenants across Nigeria while also testing out new markets.
“daba is proud to partner with Spleet on further scaling its robust solution that caters to the crucial needs of both sides of the housing market,” said Boum III Jr, co-founder and CEO of daba. “We’re even more motivated to help more investors back more of such companies and qualified ventures bypass the traditional barriers to accessing capital.”
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