Thursday, December 8, 2022

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Nigerian prop-tech startup Property Intel pronounces $500k pre-seed spherical secured final yr

Nigerian actual property knowledge analytics platform Property Intel has introduced a US$500,000 pre-seed funding spherical it raised final yr, since when it has expanded into a bunch of different African international locations.

Launched as an actual property weblog in 2016, centered on highlighting main constructing developments in Nigeria, Property Intel has grown into the most important actual property knowledge supply for Africa, offering info on historic rental, sale value and emptiness knowledge for 1000’s of properties on the continent to assist buyers and advisors make sense of Africa’s opaque actual property market.

Disrupt Africa reported final week Property Intel was considered one of sixty black-founded startups from throughout Africa chosen for the second cohort of Google for Startups Black Founders Fund (BFF) for Africa, securing as much as US$100,000 in equity-free funding and help to allow it to scale.

This has prompted the corporate to announce its pre-seed spherical, banked final yr and led by MetaProp. The US$500,000 in funding was utilized by Property Intel to develop its knowledge footprint, which was beforehand predominantly Nigeria-based, to incorporate different African international locations similar to Kenya, Zambia, Ivory Coast, Morocco and Ghana. 

Moreover, the corporate has been in a position to combination knowledge collected into its newly relaunched informative market dashboards with subscription plans for companies in the actual property and building house. These market dashboards monitor actual property market sizes, lease and sale costs for residential, workplace or retail markets, pipeline and ongoing initiatives, with protection in over 40 areas coated in main African cities.

The corporate has additionally lately put a brand new product extension, known as Vesper, into public beta. Vesper is an automatic actual property advisor that makes use of knowledge to assist the typical African spend money on property by way of fast property worth estimates and correct knowledge to information private property funding. 

“The fundraise has helped us develop our knowledge protection in new cities like Nairobi, Abidjan, Lusaka and Casablanca, along with the Nigerian and Ghanaian cities we’re already energetic in,” stated Dolapo Omidire, founder and CEO of Property Intel. 

“For the Google programme, we’re notably enthusiastic about what Google Cloud instruments and help imply for our actual property dashboards, mapping and Vesper. We’re actually dedicated to utilizing knowledge and insights to make it simpler for actual property and building corporations doing enterprise in Africa to thrive.”

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