SCOOP: Lagos Life’s parent company is in talks to raise a $2.5 million pre-seed round

Vatar, the company behind Lagos Life, is in talks to raise additional funding, according to sources familiar with the matter.

The company is targeting a $2.5 million pre-seed round at a $15 million valuation, following a $500,000 angel round that valued it at $10 million. The angel round attracted investors, including Flutterwave founder Olugbenga Agboola, Oo Nwoye, Mono founder Abdulhamid Hassan, and Terra Industries CEO Nathan Nwachukwu, barely a week after the company launched this month.

Sources familiar with the matter said the ongoing fundraise has also involved discussions at a $30 million valuation.

Last updated: October 23, 2026