Nigerian prop-tech startup Estate Intel announced raising of $500k Pre-seed funding last year
A US $500,000 pre-seed fundraising round was disclosed by Nigerian real estate data analytics platform Estate Intel, which has now expanded into a number of other African nations. Estate Intel was founded last year.
Estate Intel, which began as a real estate blog in 2016 with a focus on highlighting significant building projects in Nigeria, has expanded into the continent’s largest source of real estate data, offering details on historical rental, sale price, and vacancy data for thousands of properties. This information enables investors and advisors to better understand Africa’s murky real estate market.
This has caused the business to disclose its pre-seed round, headed by MetaProp and financed last year. Estate Intel utilized the US $500,000 in investment to broaden the scope of its data footprint, which was previously mostly based in Nigeria, to cover additional African nations including Kenya, Zambia, the Ivory Coast, Morocco, and Ghana.
The firm has also been successful in combining data into its recently updated educational market dashboards with subscription options for companies in the real estate and construction industry. These market dashboards monitor the sizes of the residential, commercial, and retail real estate markets as well as rent and sale prices. They also provide information on upcoming and existing developments, and they cover more than 40 locations in key African cities.
Additionally, the business just opened the public beta for Vesper, a new product extension. Vesper is an automated real estate adviser that uses data to guide personal property investment for the typical African by providing reliable data for personal property investment guidance and rapid property value estimations.
“The fundraise has helped us expand our data coverage in new cities like Nairobi, Abidjan, Lusaka and Casablanca, in addition to the Nigerian and Ghanaian cities we are already active in,” said Dolapo Omidire, founder and CEO of Estate Intel.
“For the Google programme, we are particularly excited about what Google Cloud tools and support mean for our real estate dashboards, mapping and Vesper. We are truly committed to using data and insights to make it easier for real estate and construction companies doing business in Africa to thrive.”
