Vatar raises $500,000 angel round, valuing Lagos Life game developer at $10 million

Vatar, the Nigerian startup behind the browser game Lagos Life, announced the closure of a $500,000 angel investment round.

The round, completed in a single day, was led by Flutterwave chief executive Olugbenga Agboola through his Resilience17 fund, with participation from Oo Nwoye, Terra Industries and Mono CEOs Nathan Nwachuku and Abdulhamid Hassan.

The funding values Vatar at $10 million, according to the company.

Game performance and revenue

Lagos Life, a simulation of daily life in Lagos, was built and launched by co‑founder and CEO Shalom Rayhamen in under 24 hours using artificial‑intelligence tools. The game went live barely a week ago and attracted one million players within its first three days; it has since surpassed four million users.

Since launch, Vatar has generated more than $170,000 in earned and contracted revenue.

“I grew up playing The Sims and always wondered what it would look like if the characters lived in my city,” Rayhamen said. “Four million people have now shown us the answer.”

Rayhamen co‑founded Vatar with Owen Rayhamen and Anderson Oriahi. With the new capital, the company plans to expand Lagos Life’s platform and pursue a sustainable gaming business model.

Vatar did not disclose further details about the use of funds, and the round’s terms remain confidential.