FacilityBills digitizes rent and utility collections in Africa, replacing fragmented systems with a unified platform that ensures transparent billing, reduces missed payments, and creates verifiable records, helping landlords, tenants, and managers operate efficiently.
FacilityBills, a Tech business founded in 2022, currently generating $2 in revenue, is at the Seed stage and is seeking Debt, Equity funding of $750,000 to
FacilityBills digitizes rent and utility collections in Africa, replacing fragmented systems with a unified platform that ensures transparent billing, reduces missed payments, and creates verifiable records, helping landlords, tenants, and managers operate efficiently.
The funding will be used to scale FacilityBills’ operations by enhancing product development and innovation, deploying smart metering infrastructure, expanding sales and marketing efforts, ensuring regulatory compliance, and growing the team. These investments will enable onboarding 50,000+ digitized rent accounts, unlock new revenue streams such as embedded credit scoring and insurance, and increase market penetration, ensuring transparent, efficient, and scalable real estate and utility payment solutions across Nigeria and beyond.
Product Launch: Platform launched in April 2022.
Transaction Volume: Processed over ₦5B in transactions across utility and service payments.
User Base: Gained 3,500+ active users across 85+ facilities.
Revenue Growth: Achieved ₦130M monthly recurring revenue.
Strategic Partnerships: Formed 5 key partnerships with metering vendors and financial institutions.
Smart Metering: Secured purchase orders for large-scale smart metering deployments.
Ownership Structure:
Unwana Ekanem (Founder / CEO) – 70%
Sodiq Ridwan (Co-Founder / CTO) – 10%
Emmanuela Ekanem (Co-Founder / Chief People Officer) – 10%
Wale Abba (Co-Founder / COO) – 5%
Exit Strategy:
FacilityBills aims to scale across Africa over the next 5–7 years, positioning the company for a strategic acquisition by a major PropTech, real estate, or financial services firm, or a potential IPO. The exit is anticipated between 2028–2030, aligned with achieving $84M ARR and 60% EBITDA.
Loan Terms:
Loan Amount: $200K
Interest Rate: 15% annual cost of funds
Repayment Period: 3 years
Collateral: Equity Buyback
Repayment Structure: Annual repayments after the 3-year grace period.
Loan Use:
The $200K loan will be used to enhance product development (40%) by integrating new features and smart metering, expand market presence (30%) through sales and marketing in key regions, deploy infrastructure (20%) for scaling operations, and ensure regulatory compliance (10%) to support new market entry and operations.
