Nigerian Proptech Startup HouseAfrica Raises US$400k in Funding Round

HouseAfrica, a Nigerian prop-tech startup providing real estate digitalisation and transparency tools to property developers and their customers has raised US$400k in a funding round backed by investors such as Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp AfriTech, Niche Capital, and Rebel Seed Capital.

Founded in 2019 by Nnamdi Uba and Ndifreke Ikokpu, HouseAfrica aims to enhance the real estate industry’s efficiency and trust by leveraging innovative technologies.

The prop-tech startup also announced the unveiling of its flagship product, Sytemap – a product which enhances confidence and eliminates fraud in Land and Real Estate transactions across Africa.

Sytemap comes in three suites namely Sytemap for Estate Developers, Sytemap for Buyers and Sytemap for Realtors and leverages proprietary blockchain and map technology to create a private land registry, digitising real estate project sitemaps and enabling instant land transaction authentication while growing sales for real estate companies. Sytemap simplifies buying and paying for properties, enabling more people to become digital realtors effortlessly, and is already used by more than 100 real estate companies.

In his statement, HouseAfrica COO & Co-founder, Ndifreke ‘Endy’ Ikokpu said the team were inspired to build this after one of the Co-founders was defrauded in a Land deal. He revealed that “Close to 95% of lands in Africa do not have verifiable titles which expose genuine retail investors to fraud. Our solution enables buyers to make informed decisions when buying lands”. “Over 100+ Real Estate companies already use Sytemap – including major brands like AlphaMead, Leadway Properties, Bamboo to mention a few.”

Amaka Udeh, Managing Director of Leadway Properties disclosed that “HouseAfrica mission aligns with ours especially as it ensures our clients enjoy the value of their real estate investments.”

Also speaking, Iyinoluwa Aboyeji of Future Africa said, “HouseAfrica is helping to create and digitize private land registries. I always thought it was only the public land registries that were slow, inefficient and murky until I heard about the experience of a friend who had to pay two different sets of people to buy land within a private estate.

“I’m super excited about how by helping private landowners and estates digitize their land records they can start to help create transparency and value that should hopefully soon inspire government land registries to follow suit.”

Silas Ugochi

Silas Ugochi is a Staff Writer and Content Creator at GetFundedAfrica. Ugochi is an educated content writer who relishes using her skills to help GetFundedAfrica's Media Team achieve the goal of sharing the success stories of African entrepreneurs. When she isn't writing articles, she can be found listening to music, reading, or DJing.

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