Companies · Other Technology

Rensource Holdings, Inc.

Lagos · Other Technology

Diligence memoA one-page analyst read on Rensource Holdings, Inc. — recommendation, valuation, rhythm, risks.
$4.3M
Total raised · real
2
Rounds
0.2×
Latest step-up
Top 45%
Sector rank · raised
Seed
Latest stage · inferred · Wed Apr 27 2022 00:00:00 GMT+0000 (Coordinated Universal Time)

Rensource Holdings, Inc. looks fair against its niche peers and is dormant on financing cadence.

Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the technology sector profile.

Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.

Fair
  • Modeled value is 0.70× the median modeled value of Seed Other Technology companies in 2022–2024 (1103 peers) — value vs value, same stage and era.
  • Within the normal band (70% of peer median) for its niche.
Dormant
  • Last raise 4.2 yr ago; this sector typically re-raises about every 13 months.
  • Silent for over 3× the sector's normal cadence.

Procedural diagnosis est. — rule-based common-sense checks over the filing pattern, issuer name, activity cadence, and surfaced operating evidence.

Issuer-vehicle patternmedium confidence

Rensource Holdings, Inc. behaves more like a recurring private-offering issuer than a conventional venture-backed operating company.

Issuer structure
Company-like
No recurring-offering pattern strong enough to override normal financing interpretation.
Lifecycle
8.4 yr record
Peak capital year was 2018 with $3.5M across 1 filings.
Market position
ahead of 56% of Other Technology peers
Capital scale is ahead of 56% of Other Technology peers; modeled value is above 25% of peers by modeled value. Large capital with mid-pack modeled value can signal an issuer/program profile rather than operating-company growth.
Valuation reliability
Normal applicability
Stage/dilution valuation models are weakest when the issuer is broad-sector, recurring, or vehicle-like.
Operating evidence
Some evidence
No clear CEO/founder/principal role is surfaced, so operating-company confidence is lower.
Data quality
Consistent
Canonical totals and visible filing detail are broadly aligned.
What triggered this
  • Legal name looks like an issuer vehicle rather than a product company.
  • No clearly named CEO/founder/principal role in the public records surfaced here.
  • No verified homepage on the profile yet.
  • Capital program peaked in 2018: $3.5M across 1 filings.
  • Largest single filing was $3.5M on 2018-01-30.
How to read the page
  • Read this less like a startup funding journey and more like a capital-raising program.
  • Stage-based valuation and peer labels have lower applicability for this pattern.
  • The more important signal is lifecycle: repeated filings ended years ago, so current activity needs outside confirmation.
Leadership

No named principal in this company's public records yet — see all operators below.

Explore how these operators interlock with other companies in the operator network.

Where it sits in Other Technology

Rensource Holdings, Inc. is one of 21292 Other Technology companies tracked from Lagos. By capital raised it ranks mid-pack (ahead of 56% of sector peers), and in the long tail by modeled valuation est..

Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.

Nigerian power-as-a-service startup Rensource raises $3.5m.

Nigerian power-as-a-service startup Rensource raises $3.5m.

As reported in public records reported — not modeled.

US
Jurisdiction
Rule 506(b)
Reg D exemption
7
Investors (latest)
2019
Year incorporated
2022-04-27
First sale
Amount raised vs valuation, by round

Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.

Amount raised · realModeled valuation · estCumulative funded · real
$0$50M$100M$150M$200MSeed · 2018-01-30 Raised $3.5M (real) Modeled valuation $119M (est)$3.5M$119MSeed2018Seed · 2022-04-27 Raised $774K (real) Modeled valuation $11M (est)$774K$11MSeed2022+$774KCumulative $4.3M

The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.

Financing ladder & sequence gaps
Seed$3.5M · 2018
Seed extension$774K · 2022

Stages are modeled from round size (public records carry no series label). No record for: Pre-Seed — the company may have raised it under a different exemption, merged it into an adjacent record, or skipped it. Sequence completeness: 50%.

Modeled valuation trajectory
$11.1M
Base estimate est.
$682K
Conservative case
$53.1M
Upside case
$3.9M
Modeled post-money

Round size and date are reported; the stage label is inferred from round size (latest is Seeda $1.0M–$4.0M round). Valuation is modeled from stage benchmarks scaled by the technology sector profile. Directional, not a quoted figure.

Seed · modeled $119.3M · 2018-01-302018Seed · modeled $11.1M · 2022-04-272022
Model inputs · modeled:benchmark-stage-stepup-v1
20%
Dilution assumption
Implied ownership sold in the financing.
39%
Survival probability
18% low · 61% high
1.61×/yr
Annual markup
2.11×/yr upside case
4.2 yr
Elapsed time used
4.2 yr actual, capped for stale marks
technology
Sector profile
Adjusts growth and survival by industry.
Financing rhythm
51 mo
Avg between rounds
$1.0M/yr
Capital velocity
8.4 yr
On record since
2018
First round
2
Rounds on file
How it compares to the market

Benchmarked against 21292 companies in Other Technology. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.

Total raised — vs sector median (real $, all stages) 1.3× above median
This company$4.3M
Sector median$3.2M
Latest round — vs other Seed rounds in sector (real $, this stage) 0.4× of median
This company$774K
Sector median$1.8M
Modeled value — vs sector median (estimate, all stages) 0.3× of median
This company$11.1M
Sector median$37.3M

Raised more than 56% of sector peers (real $). Modeled value above 25% of peers (estimate).

Niche peers — same stage & era

A tighter cohort than the sector chart above — only companies at the same stage (Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #764 of 1,103.

This companyCohort peer
$1.0M$10.0M$100.0M$1.0M$10.0MCapital raised (log)Route Reports Inc. · Seed Raised $3.9M · modeled $62.9M (est)Assetario Inc. · Seed Raised $4.0M · modeled $59.9M (est)Integrated Cinematics Inc. · Seed Raised $4.0M · modeled $59.5M (est)Soundful, Inc. · Seed Raised $3.7M · modeled $57.8M (est)Modern Foundry, Inc. · Seed Raised $3.8M · modeled $57.6M (est)PeopleGuru Holdings, Inc. · Seed Raised $4.0M · modeled $57.3M (est)PSL Holdings, Inc. · Seed Raised $4.0M · modeled $56.7M (est)Pulsa Inc. · Seed Raised $4.0M · modeled $56.6M (est)Onramp Invest, Inc. · Seed Raised $4.0M · modeled $56.3M (est)Pebble Finance Inc · Seed Raised $4.0M · modeled $55.8M (est)Lillii RNB Inc · Seed Raised $3.7M · modeled $55.3M (est)DataLego Inc. · Seed Raised $3.5M · modeled $55.1M (est)Rensource Holdings, Inc. (this company) Raised $4.3M · modeled $11.1M (est)Rensource Holdings, Inc.
CompanyStageRaised · realValue · estvs peer med.
Route Reports Inc.Seed$3.9M$62.9M3.96×
Assetario Inc.Seed$4.0M$59.9M3.76×
Integrated Cinematics Inc.Seed$4.0M$59.5M3.74×
Soundful, Inc.Seed$3.7M$57.8M3.64×
Modern Foundry, Inc.Seed$3.8M$57.6M3.62×
PeopleGuru Holdings, Inc.Seed$4.0M$57.3M3.60×
PSL Holdings, Inc.Seed$4.0M$56.7M3.57×
Pulsa Inc.Seed$4.0M$56.6M3.56×
Onramp Invest, Inc.Seed$4.0M$56.3M3.54×
Pebble Finance IncSeed$4.0M$55.8M3.51×
Lillii RNB IncSeed$3.7M$55.3M3.48×
DataLego Inc.Seed$3.5M$55.1M3.47×
Rensource Holdings, Inc. this companySeed$4.3M$11.1M0.70×
Full financing history

Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.

StageAmount · realAnnouncedPost-money · estValue · estConf.
Seed$3.5M2018-01-30$17.5M$119.3M45%
Seed$774K2022-04-27$3.9M$11.1M90%
What happened at each round

Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.

  1. Seed$3.5M2018-01-30
    • First recorded raise — entered as Seed.
  2. Seed$774K2022-04-27
    • Raised again after 51 mo — slower than the ~13 mo sector norm.
    • Round 4.5× smaller than the prior — bridge or down round.
    • 7 investors on this round.
Intelligence
2026 ~Q3
Modeled next raise · ~51mo cadence
$774K
Modeled next size est.range $774K$1.2M
0.2×
Last step-up
$1.0M/yr
Capital velocity

Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.

Key people & operators

Officers, directors and promoters named in this company's public recordsreported — the people who run it (not its investors). "Also runs" counts come from name-matching across all records, so verify before acting.

PersonRoleAlso runsTied since
Ademola Adesina1 other2022-04
Pardon Makumbe1 other2022-04
Baafour Out-Boateng2022-04
Christopher Foy2022-04
David Ladipo2022-04
James Eedes2022-04
Jussi Savukoski2022-04
Luis A. Faria2022-04
Prince A. Ojeabulu2022-04
Registry & provenance

Rensource Holdings, Inc. is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.

United States
Country of record
US
Jurisdiction
1930265
SEC CIK
2019
Incorporated
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Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.

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Semantically similar

Matched by meaning, not labels — a local language model reads each company's name, sector and description and ranks the closest in that learned space. This catches look-alikes that cross sector boundaries; the structured list above explains its matches, this one trusts the text. Directional, like every modeled signal here.

CompanySectorStageValue · estMatch
Ren Global Inc.Other TechnologySeries A$44.0M90%
Renumerate, Inc.Other TechnologySeed$13.3M89%
Rengage, Inc.Other TechnologySeed$13.5M89%
Dialsource, Inc.Other TechnologySeries A$301.0M88%
Rennovia IncOther TechnologySeries B$60.9M88%
Renaissant, Inc.Other TechnologySeed$12.9M88%
Rendyr, Inc.Other TechnologySeed$3.0M88%
RennStaff, Inc.Other TechnologyPre-Seed$3.8M87%
Frequently asked
How much funding has Rensource Holdings, Inc. raised?
Rensource Holdings, Inc. has raised approximately $4.3M in disclosed capital across 2 recorded financing rounds, aggregated from public filings.
What is Rensource Holdings, Inc.'s estimated valuation?
Provath's modeled valuation for Rensource Holdings, Inc. is approximately $11.1M (modeled range $682K–$53.1M). This is an algorithmic estimate derived from round sizes and same-niche peers — not a quoted or reported figure.
What funding stage is Rensource Holdings, Inc. at?
Rensource Holdings, Inc.'s latest modeled financing stage is Seed. Its most recent recorded round closed around Wed Apr 27.
What does Rensource Holdings, Inc. do and where is it based?
Rensource Holdings, Inc. operates in the Other Technology sector, based in Lagos. Nigerian power-as-a-service startup Rensource raises $3.5m.
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