Nigerian prop-tech startup, Spleet is expanding to Ghana, Rwanda and Kenya this year as it transitions towards an Airbnb-style self-hosting model for Nigerians travelling abroad.
Founded in August 2017 from the need to find rentals with flexible payment options in Lagos as opposed to the usual one or two year upfront payment options, Spleet allows homeowners to rent out rooms to vetted individuals, while also helping people easily find places to stay.
The startup recently launched a host product for homeowners with spare rooms to manage their spaces, which will allow Airbnb-style self-hosting on its platform, and is looking at moving into new markets.
Chief executive officer (CEO) Tola Adesanmi mentioned that Spleet was planning to expand to Ghana in the second quarter of 2021, and Kenyan and Rwanda in Q3.
“We intend to first seed those markets by initially working closely with property managers that currently manage spaces manually, with a focus on people visiting from Nigeria. This way we build a reputation before hitting the local market directly,” he said.
“The host product also gives potential hosts autonomy, and a sense of control over their earnings. Over the next few months, we’ll continue to iterate per customer feedback and our own product roadmap.”
In Nigeria, Spleet has seen positive uptake of its renters product, and currently has a 96 per cent retention rate with its long stay spaces, and an average stay of 11 months.
“Metrics like our current waitlist signal potential for more growth now that we have the hosting product,” Adesanmi said.
After bootstrapping for 18 months, Spleet closed a US$265,000 pre-seed round in 2019 and is currently raising a seed round.