CASE STUDIES

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

Tola Adesanmi, Co-Founder & CEO, has experience building fintech products at top African banks.

Daniella Ajala, Co-Founder & COO, has pricing and operations expertise from roles at Volkswagen and Fidelity Bank.

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.

Investment Overview

– 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

TechCrunch: https://techcrunch.com/2022/10/04/nigerian-proptech-spleet-gets-2-8m-led-by-mac-vc-to-scale-its-property-management-products/

TechCabal: https://techcabal.com/2022/10/04/spleet-raises-2-6-million-seed-round-to-provide-rent-financing-across-africa/

Business Insider Africa: https://africa.businessinsider.com/local/markets/nigerian-proptech-startup-spleet-raises-dollar26-million-in-funding-led-by-mac/6e1bnwk

Learn how you too can access global capital pools through Daba.

Reach out to us at: investments@joindaba.com

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