Nigeria’s HouseAfrica, a prop-tech startup providing real estate digitalisation and transparency tools to property developers and their customers, has raised US$400,000 in funding.
Founded in 2019 by Nnamdi Uba and Ndifreke Ikpoku, HouseAfrica aims to enhance the real estate industry’s efficiency and trust by leveraging innovative technologies.
Its flagship product Sytemap.com 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.
The US$400,000 funding round will be used to deepen the startup’s technology, increase adoption, and grow its team. HouseAfrica is backed by investors such as Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp AfriTech, Niche Capital, and Rebel Seed Capital.
“Close to 95 per cent of lands do not have verifiable titles which expose genuine retail investors to fraud. Our solution enables buyers to make informed decisions when buying lands,” said HouseAfrica CEO and co-founder Nnamdi Uba.
Iyinoluwa Aboyeji of Future Africa said he always thought it was only the public land registries that were “slow, inefficient and murky”, until he 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 digitise their land records they can start to help create transparency and value that should hopefully soon inspire government land registries to follow suit,” he said.
