HouseAfrica, a proptech startup based in Nigeria, recently announced the completion of a $400,000 funding round, six years after its establishment. The company aims to address land issues in Africa and has developed the first blockchain-based land and property registry on the continent to reduce the time stakeholders spend registering and querying land titles. HouseAfrica's solution aims to resolve problems such as duplicate land titles, limited access to mortgages, and illegal sales of landed property. Its flagship product, Systemap, leverages blockchain and map technology to create a private land registry that digitizes sitemaps for real estate projects. Currently, over 100 real estate firms are using Systemap, and HouseAfrica plans to expand across Africa, with a specific focus on countries such as Ghana, Kenya, and Rwanda. Nnamdi Uba, CEO, and co-founder, stated that the funding would enable HouseAfrica to deepen its technology and expand its team.
HouseAfrica's innovative solution has gained the support of leading African and global investors, including Future Africa, SSE Angel Network, ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, and Rebel Seed Capital. According to Uba, nearly 95% of lands in Africa lack verifiable titles, putting genuine retail investors at risk of fraud. HouseAfrica's solution enables buyers to make informed decisions when purchasing land, improving transparency and trust in land transactions. HouseAfrica has made significant strides in the proptech industry and has attracted the attention of major real estate firms such as AlphaMaed, Leadway Properties, and Bamboo. With the African real estate market growing rapidly, HouseAfrica's innovative solutions have the potential to revolutionize the industry by providing a secure and transparent way to manage land transactions. The latest funding round confirms the startup's promising future and commitment to making land and property transactions more accessible and secure throughout the continent.
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