Nigeria’s Lease Small Small joins Techstars Toronto accelerator

Nigerian prop-tech startup Lease Small Small has been accepted to affix the newest cohort of the Techstars Toronto accelerator programme, securing US$120,000 in funding and help in scaling.

Launched in 2018, Lease Small Small is an internet platform that permits customers to establish houses to lease and pay lease month-to-month. The startup has thus far helped renters save NGN550 million (US$1.3 million) on authorized and company charges and offered over 12,000 month-to-month stays throughout 18 areas in Lagos State. 

It has been chosen to participate within the newest Techstars Toronto accelerator, which kicks off this month, following fellow Nigerian startups TalentQL and Plentywaka (now Treepz), who took half in the identical programme earlier this 12 months.

The 13-week Techstars Toronto accelerator programme is designed to supply mentorship, funding and entry to the Techstars community. It culminates with a demo day at which chosen startups will pitch to a fastidiously curated group of traders. Startups additionally safe US$120,000 in fairness funding.

Tunde Balogun, Lease Small Small’s chief govt officer (CEO), stated he believed becoming a member of Techstars presently was proper for the startup’s subsequent progress part.

“We have now stayed away from institutional funding for the previous three years as a result of we wished to determine a mannequin that actually solves the rental issues, and one which we are able to scale,” he stated. 

“Now that we’ve got good traction and our resolution is liked by each landlords and tenants, we want robust mentorship for our subsequent progress part. We imagine that taking part within the Techstars Toronto accelerator presently is true for us. Its community, abilities and assets are what we will leverage as we develop.”

Sunil Sharma, managing director of Techstars Toronto, stated one factor that united Canada with Africa was the problem to find accessible and reasonably priced rental residing in main cities, significantly for folks simply beginning their skilled careers.  

“After we met the staff at RentSmallSmall, we instantly understood the issue that they’re fixing and even noticed the parallels with our personal scenario right here,” he stated.

“If there’s one business that has captured the eye of Canadians it’s actual property, and our perception is that our instant community of property specialists, landlords and tech and actual property traders will likely be of nice worth to Tunde and his staff seeking to make housing accessible to extra folks throughout Africa.”

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