A real estate app that verifies land transactions

Overview: Sytemap is a real estate app that gives confidence and removes fraud in African land and real estate transactions

HouseAfrica, a property tech startup, launches an app to verify land and real estate transactions in Africa. Investors pour in $400,000 to develop the app, its founders said in a statement.

HouseAfrica, a property tech startup, developed the 3-suite application to prevent fraud in buying and selling land and real estate. The app, Sytemap.com, digitalizes real estate assets and delivers them NFT-like to enhance confidence and eliminate fraud in transactions.

Nnamdi Uba and Ndifreke Ikpoku, are the founders of the apps. They announced the recent successful closing of its four hundred thousand Dollars ($400,000) funding round.

Leading African & Global investors like Future Africa and SSE Angel Network (SSEAN) subscribed in the funding round. Other investors include ARM Labs, CV VC, Startupbootcamp Afritech, Niche Capital, Rebel Seed Capital and many more.

Sytemap comes in three suites, namely Sytemap for Estate Developers, Sytemap for Buyers and Sytemap for Realtors.

It leverages proprietary blockchain and map technology that creates a private Land registry. It also digitizes real estate project sitemaps which increases transparency and enhances trust.

The creators describe the suites as follows:

  • Sytemap for Estate Developers enables instant authentication of land transaction while growing sales for real estate companies.
  • Sytemap for Customers, simplifies buying and paying for land/house with confidence without fear of fraudsters, and,
  • Sytemap for Realtors enables more people to become digital realtors with minimal effort.

The inspiration for the app came from a deal where fraudsters duped one HouseAfrica team member, COO & Co-founder, Ndifreke ‘Endy’ Ikpoku  said in a statement.

“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,” he siad.

Ikoku revealed that over 100 Real Estate companies already installed and use sytemap.

Among the users are major brands like  AlphaMead, Leadway Properties, and Bamboo, he said.

Startup launches property app: Users applaud

Ms Amaka Udeh, Managing Director of Leadway Properties agreed with Ikoku in a statement. “HouseAfrica mission aligns with ours especially as it ensures our clients enjoy the value of their real estate investments.”

Iyinoluwa Aboyeji of Future Africa praised the duo for “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 that private landowners and estates can digitize their land records to create transparency and value that should hopefully soon inspire government land registries to follow suit,’ Aboyeji said.

Oseyomon Ighodaloh, CEO at Bamboo Real Estate praised Sytemap for the potential issue it solves for clients.

“Embracing this technology will open more opportunities for our clients worldwide as it aim to solve the issues faced by buyers and us.”

Adeola, COO, of UVest Homes, put the big value in Sytemap to the fact that” laid the facts bare. “The fact that “we can automate the payment of commission to our sales people is really big value! “The UX is great, and the platform is easy to use. We were able to allocate an entire estate in less than one hour and our clients were really impressed.”

Startup launches property app to verify land transactions

Author

  • Ogbuagu Bob Anikwe is the publisher of Enugu Metro. He writes a well-received column for Enugu Metro (on Sundays) and the (Nigerian) Sun Newspaper every Thursday. Contact Bob through any of the channels below or send an SMS to +234 803 622-0298.

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