A Nigerian property technology startup, Rent SmallSmall, has been accepted to join the Techstars Toronto Accelerator Programme, beginning in October this year.
The development, which is expected to boost the local rental property market, has made the firm the first African property technology platform selected to join the programme.
A statement quoted the Chief Executive Officer, Rent SmallSmall, Tunde Balogun, as saying that the membership of Techstars accelerator programme would enhance the next growth phase of the company.
He said, “We have stayed away from institutional investment for the past three years because we wanted to figure out a model that truly solves the rental problems and one that we can scale. Now that we have a good traction and our solution is loved by both landlords and tenants, we need strong mentorship for our next growth phase.
“We believe that participating in the Techstars Toronto Accelerator at this time is right for us. Its network, skills and resources are what we will be able to leverage as we expand.”
The Managing Director of the Toronto regional startup ecosystem, Sunil Sharma, was quoted saying, “One thing that unites Canada with Africa is the challenge in finding available and affordable rental living in major cities, particularly for people just starting on their professional careers. When we met the team at Rent SmallSmall, we immediately understood the problem that they are solving and even saw the parallels with our own situation here.
“If there is one industry that has captured the attention of Canadians it is real estate, and our belief is that our immediate network of property experts, landlords and tech and real estate investors will be of great value to Tunde and his team looking to make housing available to more people across Africa.”
