Vatar Inc., the company behind the viral Nigerian browser game Lagos Life, has closed a $500,000 angel round at a $10 million valuation three days after incorporation, according to a company statement.
“We built something people love that is growing very fast, so a lot of investors wanted to be involved,” Shalom Rayhamen, co-founder and CEO of Vatar Inc., told TechCabal in an interview. “We got the opportunity to connect and hear their offers, and because we are growing so fast, we closed it quickly so we could focus on the product.”
Olugbenga “GB” Agboola, Flutterwave’s CEO, invested through his fund, Resilience17. Oo Nwoye, Nathan Nwachuku, Terra Industries CEO, and Abdulhamid Hassan, Mono’s CEO, also participated in the round, which the company says closed in a day.
Lagos Life is part of a wave of Nigerian-made browser games sparked by Lagos Run, Opeyemi Adeniran’s game about driving a danfo, the iconic yellow bus, through Lagos, which drew more than 140,000 players in its first week. Rayhamen built Lagos Life days after seeing Lagos Run on X, and copycats soon followed.
Originally published by TechCabal.