• Friday, December 08, 2023
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HouseAfrica launches innovation to track fraud in real estate

Opportunities and strategies for young Investors in real estate

HouseAfrica, a proptech Startup providing Real Estate digitalisation has announced the unveiling of Sytemap.com.

According to the startup, the new product will enhance confidence and eliminate fraud in Land and Real Estate transactions across Africa.

Ndifreke Ikpoku, co-founder and COO HouseAfrica commenting on the new innovation said, “the team were inspired to build this after one of the co-founders was defrauded in a Land deal. Close to 95 percent 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”.

The company said It leverages proprietary blockchain and map technology to create a private Land registry, digitise real estate project sitemaps, increase transparency, enhance trust and enable instant land transaction authentication while growing sales for real estate companies.

Also, the co-founder stated that Sytemap comes in three suites namely Sytemap for Estate Developers, Sytemap for Buyers and Sytemap for Realtors

Sytemap for customers, according to the platform, simplifies buying and paying for land and house with confidence without fear of being defrauded while Sytemap for Realtors enables more people to become digital realtors with minimal effort.

Read also: Firm urges investment in real estate to beat inflation

Amaka Udeh, managing director of Leadway Properties disclosed that HouseAfrica mission aligns with theirs as it ensures clients enjoy the value of their real estate investments.

Also speaking, Iyinoluwa Aboyeji of Future Africa stated that the Proptech company through the new innovation is tackling most issues faced in the real estate sector.

“ 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,” Aboyeji said.

The proptech company said over 100 real estate companies already use Sytemap, including brands like AlphaMead, Leadway Properties, Bamboo to mention a few.

Meanwhile, The company also announced the closing of $400,000 in funding from African and global investors like Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, Rebel Seed Capital and others.