HouseAfrica has announced the closure of four hundred thousand dollars ($400,000) in funding. Six years after its launch,…
HouseAfrica has announced the closure of four hundred thousand dollars ($400,000) in funding. Six years after its launch, HouseAfrica is one of the best startups in Africa, seeing to the reduction of land issues on the continent’s shores.
HouseAfrica developed Africa’s first blockchain-based land and property registry, minimizing the time lawyers, banks, and other stakeholders spend to query and register land titles.
Established in May 2018 by Nnamdi Uba and Ndifreke Ikpoku, HouseAfrica provides solutions to issues like duplicate land titles, low access to mortgages, and illegal sales of landed property. As seen in its official statement, the company also launched its flagship product, sytemap.com.
Sytemap leverages proprietary blockchain and map technology to create a private land registry, digitizing real estate project sitemaps. The product increases transparency and enhances trust by enabling instant land transaction authentication and growing sales for real estate companies.
Sytemap simplifies buying and paying for properties, enabling more people to become digital realtors effortlessly.
Impressively, more than 100 real estate firms use Systemap; some of these firms include popular and reputable brands like AlphaMaed, Leadway Properties, and Bamboo. In 2020, Co-founder Uba Nnamdi said that HouseAfrica is bullish with far-reaching ambitions:
“Our solution is very scalable because most African, Asian, and Latin American countries have the same issues. First, we are looking to expand to other African countries, like Ghana, Kenya, Rwanda, South Africa, Tanzania, and Angola.”
Over the years, it has received considerable support from leading African and global investors such as Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, Rebel Seed Capital, and others.
More details about HouseAfrica’s latest funding
Speaking about the raise, HouseAfrica CEO and Co-founder Nnamdi Uba said the funding would assist the startup in deepening its technology and growing adoption and its team. He opined that “close to 95% of lands do not have verifiable titles, which expose genuine retail investors to fraud. Our solution enables buyers to make informed decisions when buying land.
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In a statement, 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.”
Similarly, Africa’s top Angel investor and president of the African Business Angel Network (ABAN), Tomi Davies, said, “By using innovative technology, including blockchain, to give land owners the capability to digitize their land records, land buyers begin to possess the ability to quickly verify and acquire properties privately from anywhere in the world. HouseAfrica presents a tremendous commercial opportunity with potentially significant social impact when adopted by the public sector.”