Estate Intel, Nigerian Prop-tech Startup Unveils $500k Pre-seed Round Raised Last Year

A US$500,000 pre-seed funding 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.

The second batch of Google for Firms Black Founders Fund (BFF) for Africa picked Estate Intel as one of sixty black-founded startups from around Africa, according to Disrupt Africa. Estate Intel received up to US$100,000 in equity-free funding and support to help it scale.

This has caused the business to disclose its pre-seed round, led by MetaProp and banked last year. Estate Intel used the US$500,000 in funding to broaden the scope of its data footprint, which was previously mostly based in Nigeria, to cover additional African nations like Kenya, Zambia, the Ivory Coast, Morocco, and Ghana.

The business 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 space. 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 ongoing projects, and they cover more than 40 areas in key African cities.

Additionally, the business recently opened the public beta for Vesper, a new product extension. Vesper is an automated real estate advisor that uses data to guide personal property investment for the typical African by providing reliable data for personal property investment guidance and quick property value estimates.

“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.”