Nigerian proptech Spleet gets $2.6M led by MaC VC to scale its property management products

For the average individual living in Lagos — Nigeria’s most populous city, with over 20 million people — apartment hunting is an extreme sport. Not only is rent expensive — low- to middle-income housing can cost between $1,000 and $5,000 yearly — but renters must also pay a year in advance, sometimes even two before moving in.
Landlords in the city, like any in Nigeria, have stuck to accepting rent in this manner for decades because they find monthly payments unsustainable; to them, annual up-front fees reduce administrative costs and the chances of renters defaulting.

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