Vatar Inc. Secures $500,000 Funding for Lagos Life Game

Vatar Inc., the company behind the browser game Lagos Life, successfully closed a $500,000 pre-seed funding round at a $10 million valuation just three days after its incorporation on October 6. Co-founder and CEO Shalom Rayhamen stated that the game's rapid growth attracted significant investor interest, leading to a swift closure of the funding round.

Notable investors included Olugbenga “GB” Agboola, CEO of Flutterwave, who invested through his fund Resilience17, along with Oo Nwoye, Nathan Nwachuku, CEO of Terra Industries, and Abdulhamid Hassan, CEO of Mono. Lagos Life has quickly gained traction, amassing 4.3 million users within two weeks of launch, with over 100,000 concurrent players at its peak.

The game has users from 15 countries, primarily Nigeria, the United States, the United Kingdom, Ghana, Canada, and the Netherlands. The funding will be allocated towards product development, marketing, and hiring.