Investors
The infrastructure layer beneath Nigeria's rental market
Flatmates Nigeria is the fastest-growing verified rental marketplace in West Africa. We're building the trust infrastructure that connects millions of Nigerians to safe, affordable housing.
₦4.5T
Addressable market
Nigeria's formal rental economy
At a glance
5,200+
Listings
28,000+
Users
6
Cities
34%
MoM growth
Traction
5,200+
Verified listings
28,000+
Registered users
6
Cities active
₦850k
Avg. booking value
34%
MoM listing growth
4 days
Avg. time to first room
Investment thesis
Why this market, why now, why us
01
₦4.5 trillion addressable market
Over 11 million Nigerians rent in urban centres with no trusted platform to do it safely. The formal rental market is chronically underserved - there is no dominant player, no trust infrastructure, and no escrow. That's the gap we occupy.
02
Network effects compounding fast
More verified hosts attract more quality renters. Matching quality improves as the dataset grows. Each market we launch into starts behind, catches up, and then compounds - because trust is sticky and marketplaces that build it retain both sides.
03
Trust is a competitive moat
We verify every host with BVN/NIN, hold rent in escrow, and back renters with the Flatmates Guarantee. In a market defined by fraud and broken agreements, being the platform that is safe to use is a durable advantage that is hard to copy quickly.
04
Multiple monetisation paths, only two activated
Host subscription tiers, booking fees, escrow float, tenant screening APIs, and a growing B2B pipeline for corporate housing. We've proven two. Each subsequent stream layers onto the same trust infrastructure at near-zero marginal cost.
Business model
Five revenue streams. Two activated.
The team
Operators with proof of work
Olakunle Adeleke
Founder & CEO
Ex-Andela, serial founder
Chisom Nwachukwu
Co-founder & CTO
Ex-Andela, distributed systems
Funmilayo Adeyemi
Head of Growth
Ex-Paystack growth team
Emmanuel Bassey
Head of Operations
Ex-Airbnb Africa launch team
Interested in investing?
We're raising our Series A to accelerate expansion across West Africa
If you invest in African proptech or fintech, we'd love to share our deck. We respond to every serious inquiry within 48 hours.
investors@flatmates.com.ng