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SmallSmall which gives renters access to monthly rent payments and offers landlords a way to vet tenants, increase their income, and manage properties, has raised USD 3 Mn (USD 2 Mn equity and USD 1 Mn debt) in seed funding. The startup plans to use the money for expansion into other main cities in Nigeria, including Port Harcourt, Enugu, and Jos, before the end of Q1 2023.
The seed round welcomed participation from other investors like Oyster VC, Asymmetry Ventures, Vivaz, and Niche Capital. Individual angels such as Sean Fannan of Chartboost, Adam Meghji of Universe, Jimmy Ku of Flutterwave, Samir Goel and Wemimo Abbey of Esusu, Jason Njoku of Iroko, and Tunde Kara of Vendease also participated.
To increase the supply pool and create options for customers, SmallSmall rebranded from RentSmallSmall in July. RentSmallSmall allows users to rent housing and pay monthly. BuySmallSmall identifies newly built properties by reputable developers that meet the company’s market demand: studio apartments, one-bedroom, and two-bedroom apartments — and packages them as investment opportunities for young professionals looking to invest in real estate.