Nigerian Proptech Company SmallSmall Raises $3M to Provide Flexible Living Solutions
In the bustling city of Lagos, Nigeria faces a critical challenge: urbanization outpaces the nation’s ability to provide adequate housing solutions. With a rapidly growing population and limited infrastructure, traditional housing providers often fall short in meeting the needs of both long-term residents and first-time buyers. This inefficiency has created significant problems for renters, who frequently encounter lengthy wait times and hidden fees that strain their budgets.
SmallSmall, an innovative PropTech startup, emerged as a disruptor in this sector, addressing the housing crisis through technology and community engagement. Recognizing the systemic issues faced by renters, SmallSmall offers flexible tenancy options combined with integrated financing solutions. Their platform is designed to streamline the rental process, ensuring affordable and transparent accommodations for individuals seeking quality housing.
The company’s operations span Lagos and Abuja, where they have processed over 25,000 stays, averaging a stay duration of 17 months. This sustained occupancy rate exemplifies their commitment to providing stable living solutions. SmallSmall’s business model is multifaceted, encompassing listing fees for property owners, a rewards program for participants, and intermediary services that reduce tenant-broker conflicts.
Funded by a pre-seed round led by Techstars Toronto, SmallSmall has secured significant backing from notable investors such as Oyster VC, Asymmetry Ventures, Vivaz, Niche Capital, Sean Fannan of Chartboost, Adam Meghji of Universe, Jimmy Ku of Flutterwave, Samir Goel, Wemimo Abbey, Jason Njoku of Iroko, and Tunde Kara of Vendease. This robust funding base positions the company to expand its operations and enhance its technological capabilities.
Looking ahead, SmallSmall aims to leverage PropTech advancements to revolutionize Nigeria’s housing market. Their vision extends beyond providing shelter; they seek to empower homebuyers by offering financial flexibility and fostering long-term investment potential. By addressing the root causes of inefficiency and integrating modern tech solutions, SmallSmall positions itself as a catalyst for meaningful change in Nigeria’s urban landscape.
In conclusion, SmallSmall stands out as a beacon of innovation in Nigeria’s housing sector. Through its PropTech platform, they are not only solving immediate rental challenges but also paving the way for sustainable growth and community empowerment.
