Daba Facilitates Spleet’s funding through its Managed investment Vehicle and Institutional Network
2 min Read November 20, 2023 at 11:27 AM UTC
FUNDRAISING CASE STUDY
Company Name: Spleet
About the Company
Spleet offers rental management software and financial services to landlords, tenants, and property managers in Africa. Their platform makes renting residential property easier across the continent.
– Real estate tech company, founded in 2021
– Headquarters: Lagos, Nigeria
– Business model: B2B and B2C
– Products: Rental management software, rent financing for tenants
Fundraising: The Daba Advantage
Daba enabled Spleet to raise funds from retail investors
Retail Investors via Direct SPV Investment
Daba listed Spleet on its investment platform, enabling retail investors to back the startup through a special purpose vehicle (SPV). Daba consolidated all investments into one entity on Spleet’s cap table, streamlining the fundraising process. This procedure underscores our efficiency in connecting startups with the capital they seek.
– Minimum investment: $500 per retail investor via Daba
– Total raised: $2.6 million in seed funding
– Lead investors: MaC Venture Capital, Noemis Ventures, Plug and Play Ventures
Impact of the fundraising round
The capital will help Spleet scale its rental management platform and expand its “Rent Now, Pay Later” financing product, which offers tenants collateral-free loans to pay rent in installments.
From Spleet CEO:
“We enjoyed our engagement with Daba, and it was exciting to get their community of investors to invest in Spleet. Their process was straightforward, however, the due diligence was rigorous, which is in good standing for their investors. We are happy with the support and we hope to create value for them, and with them” – Tola Adesanmi, Spleet CEO
Spleet Fundraising in the News
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