We are raising ₦120M to make one city work properly. Not five. Lagos is where we prove that a map of real plans beats a group chat, and the playbook we write there is what the next round buys.
Not because there is nothing on. Because the distance between wanting to and doing it is full of small frictions nobody has bothered to remove.
Forty messages, three maybes, nobody books anything. The plan dies because no single person is willing to own it.
A hang exists with a venue, a time and a number of spots. You see 5 of 8 going before you ask. It is already real when you find it.
One person pays the pitch fee, then spends a week asking eight adults for ₦2,800. It costs them a friendship more often than it costs them money.
Cost divides by headcount, recalculates when someone joins or drops, and settles to the venue. No host ever holds anyone's money.
Open platforms fail on trust. If anyone can claim to be anyone, women stop showing up first, and then everyone does.
Government ID matched to a selfie. The host approves every join. Pins land on venues, never homes. Women only means checked against verified ID, not self declared.
School gave you a group. Work gives you colleagues. After that most people are quietly alone in a city of millions, and shy people never get past the front door.
Live audio you drop into and leave without explaining. Listen only if you want. When a room becomes a plan, one tap puts it on the map with everyone already invited.
A map is only worth opening if it is full. Spreading a first round across five cities gives you five empty maps and no proof of anything.
Ten hangs in Lagos on a Friday feels alive. The same ten spread over five cities feels dead in all of them. Liquidity is local, so we buy it in one place first.
Partner venues get signed in person, one manager at a time. One community lead can cover Lagos. They cannot cover Enugu on the same day.
If the model survives Lagos traffic, Lagos prices and Lagos scepticism, every other Nigerian city is an easier version of the same job.
What we sell the next round is not users. It is a repeatable city launch with known cost, known ramp and known payback. You only get that from doing it once, properly.
Nigerians settle between each other by bank transfer every day without thinking about it. We do not have to teach a payment behaviour. We only have to do the arithmetic and route it.
NIN and BVN infrastructure make real identity checks possible at consumer scale and consumer cost. The safety model this product depends on was not buildable before that existed.
Pitches, lounges, karting tracks and boats are empty midweek. They will discount hard to fill a slot. That is our supply side, and it costs us almost nothing to acquire.
This is the part investors ask about first, so it is worth being precise. We are not building a bank and we are not taking deposits. We sit on rails Nigerian fintech already runs.
A member funds their wallet by transferring to a dedicated virtual account issued by a licensed partner bank. The balance sits with the bank, in the member's own name, not in a pooled account we control.
When a hang is booked, the payment partner moves funds from the member to the venue's account at settlement. It never passes through a host, and it never passes through us.
A paid room host keeps 90%, released 48 hours after the room ends. The hold is enforced by the payment partner, which is why nobody can take money and disappear.
Host cancels, hang does not fill, venue cannot honour the booking, the money goes back automatically. No support ticket, no argument.
Two of these are pure platform margin on somebody else's work: the organiser keeps 90%, we keep 10%, and we carry the payment rails, the verified audience and the refund guarantee.
10 to 15% on bookings we fill. A pitch that was empty on Tuesday now has eight paying people in it. This is the main line.
Organisers list real ticketed events on the map, concerts, comedy nights, conferences, and sell through us. They keep 90%, we keep 10%, and the money settles to them 48 hours after the door closes.
5% on paid hangs, charged to members and shown in the app before they pay. Already live in the product.
Hosts sell tickets to a live audio room and keep 90%. We take 10% of a product with almost no marginal cost.
Venues and organisers pay to surface a discounted slot or a slow selling event to the right people at the right time of week.
| Venue booking, 8 people | ₦22,400 |
| Service fee at 5% | ₦1,120 |
| Venue commission at 12% | ₦2,688 |
| Platform revenue per hang | ₦3,808 |
| Per member, per hang | ₦476 |
| At 1.5 hangs a month, per active member | ₦714 |
| Event | Tickets sold | Gross | Our 10% |
|---|---|---|---|
| Comedy night, ₦7,500 | 320 | ₦2.4M | ₦240,000 |
| Conference day pass, ₦25,000 | 400 | ₦10.0M | ₦1,000,000 |
| Concert, ₦12,000 | 500 | ₦6.0M | ₦600,000 |
| Three events in a month | 1,220 | ₦18.4M | ₦1,840,000 |
About $75,000 at ₦1,600 to the dollar. Built bottom up from a real payroll, not a round number picked backwards from a valuation. Burn is ₦10M a month.
| Role | People | Monthly |
|---|---|---|
| Founders, below market | 2 | ₦1,400,000 |
| Senior full stack engineer | 1 | ₦1,100,000 |
| Mobile engineer | 1 | ₦950,000 |
| Product designer | 1 | ₦750,000 |
| Lagos community lead | 1 | ₦450,000 |
| Content creator | 1 | ₦350,000 |
| Trust and safety operations | 1 | ₦250,000 |
| Monthly payroll | 8 | ₦5,250,000 |
That is the whole thesis of this round. Not a big number, a reachable one. At ₦714 per active member per month against a ₦10M monthly burn, this is where the arithmetic crosses.
Break even is one city, not five. Everything to the right of that line is margin that funds Abuja.
| Monthly active members | Monthly revenue | Share of burn |
|---|---|---|
| 3,000 | ₦2.1M | 21% |
| 10,000 | ₦7.1M | 71% |
| 14,000 | ₦10.0M | Break even |
| 25,000 | ₦17.9M | 179% |
A map of events is a weekend project. A network where strangers trust each other enough to actually meet is not, and it compounds.
One person, one account, ID matched to a selfie. A competitor can clone the interface in a month. They cannot clone a verified member base or the behaviour record attached to it.
A partner earning from us pushes their own audience into the app to fill slots and sell tickets. Every venue and every event promoter we sign is a channel we do not pay for twice.
Check-ins build a record. Hosts pick people who turn up, members pick hosts who deliver. That reputation does not transfer to another app.
Money routes to the venue through a licensed partner. Small regulatory surface, no deposit taking, and a trust claim short enough to say out loud.
The product is live and you can use it right now, no account needed. If the Lagos case holds up for you, we would like to talk.
This page is a summary for discussion only. It is not an offer to sell securities, an invitation to invest, or a promise of any return. Every figure here is a working assumption prepared by the founding team, has not been audited or independently verified, and will change. Revenue per member, booking values, take rates, salary levels and the ₦1,600 exchange rate used are estimates. Market sizing has not been independently commissioned. No venue partnership or payment provider referenced on this page is contracted yet. Anyone considering an investment should ask for the full data room and take their own professional advice.