- Announce $400,000 Raise
HouseAfrica, a proptech Startup providing Real Estate digitalization and transparency tools today announced the unveiling of Sytemap.com – a product which enhances confidence and eliminates fraud in Land and Real Estate transactions across Africa.
The company which was founded by Nnamdi Uba and Ndifreke Ikpoku also announced the closing of Four Hundred Thousand Dollars ($400,000) in funding from leading African & Global investors like Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, Rebel Seed Capital and others.
Sytemap comes in three suites namely Sytemap for Estate Developers, Sytemap for Buyers and Sytemap for Realtors. It leverages proprietary blockchain and map technology to create a private Land registry, digitizing real estate project sitemaps, increase transparency and enhance trust. It enables instant Land transaction authentication while growing sales for real estate companies. Sytemap for Customers, simplifies buying and paying for land/house with confidence without fear of being defrauded while Sytemap for Realtors enables more people to become digital realtors with minimal effort.
In his statement, HouseAfrica COO & Co-founder, Ndifreke ‘Endy’ Ikpoku 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.
In a statement, Ms 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.”