Vatar Closes $500,000 Angel Round at $10M Valuation Following Viral Launch of Lagos Life
The parent company of the fast-growing multiplayer browser game secures rapid funding in a single day as player traffic surpasses five million users nine days after debut.
LAGOS — Nigerian game studio and technology venture Vatar has completed a $500,000 angel and pre-seed funding round at a post-money valuation of $10 million.
The financing round closed within a single day, propelled by the viral growth of Vatar’s flagship multiplayer browser game, Lagos Life.
The capital round was backed by prominent African tech founders and investors, including Flutterwave Chief Executive Officer Olugbenga Agboola through his investment fund Resilience17, alongside Oo Nwoye, Terra Industries, and Mono executives Nathan Nwachuku and Abdulhamid Hassan.
Lagos Life was created by co-founder and Chief Executive Officer Shalom Rayhamen, with the company incorporated alongside co-founders Owen Rayhamen and Anderson Oriahi.
Launched on October 1, Lagos Life simulates everyday socio-economic experiences within urban Nigeria. Driven by high social media engagement and accessibility via web browsers, the game crossed five million players and recorded over 34 million total visits within nine days of its public release.
The platform monetizes through digital advertising, music promotion integrations, and brand partnerships. Proceeds from the $500,000 capital raise will support technical infrastructure scaling, team expansion, and the development of subsequent virtual world concepts under the Vatar ecosystem.
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