The global proptech market size reached $35.4 Billion in 2024, according to IMARC Group’s report.
The report expects the market to reach $114.8 Billion by 2033, exhibiting a growth rate (CAGR) of 13.25% during 2025-2033.
The market is experiencing rapid growth due to the increasing urbanization, shifting consumer preferences toward digital platforms, rising investment in property technology startups, rapid advancements in technology, and the growing focus on sustainability and smart building solutions.
Major PropTech Market Drivers
The report went ahead to mention that rapid technical breakthroughs in proptech, like artificial intelligence (AI), blockchain, and big data analytics, are driving the industry growth.
Furthermore, the increasing consumer preferences toward digital platforms for property transactions and management, as well as growing venture capital and private equity investments in companies, are boosting the market expansion.
Techeconomy PropTech Startups Watchlist 2025:
- House Africa
- BuyLetLive
- Estate Intel
- Smallsmall
- Spleet
- VENCO
- PropertyPro Africa
- alphabloQ
- Keble
- Bongalow
HouseAfrica
- Founded: 2019
- Founders: Nnamdi Uba and Ndifreke Ikpoku
HouseAfrica is a Nigerian proptech startup aiming to democratize real estate investment and enhance transparency in property transactions across Africa.
The startup leverages blockchain technology to digitize land and property records, making real estate investments more accessible and secure.
Key Offerings:
Sytemap: Sytemap is HouseAfrica’s flagship product. It utilizes proprietary blockchain and mapping technology to create a private land registry.
This platform digitizes real estate project sitemaps, enabling instant land transaction authentication and reducing fraud.
It also facilitates easier property purchases and payments, allowing individuals to become digital realtors effortlessly.
As of 2023, over 100 real estate companies have adopted Sytemap to enhance trust and transparency in their transactions.
In December 2024, Sytemap unveiled historic initiative to empower women though land ownership, pledging 50% discount on verified lands available March 8–14, 2025.
Fractional Property Ownership: HouseAfrica also divides properties into shares (measured in square meters) recorded as digital units on the blockchain.
This approach allows individuals to invest in real estate with as little as ₦10,000 per share, earning rental income and benefiting from capital appreciation over time.
Interestingly, the startup signed an agreement with Gtext Homes led by Dr. Stephen Akintayo.
Under the agreement, HouseAfrica will implement digitalization of Gtext Homes’ properties, especially in tracking payments.
“There is a pressing need for end-to-end digitization and automation of land and property allocations, and he expressed great enthusiasm about working with us. Today, we will begin the process of digitizing over 40 estates and more than 20,000 sales consultants.
“Digital Real Estate is Possible!”, Uba wrote in a blog post.
Recent Development | Funding
In March 2023, HouseAfrica secured a $400,000 funding round from investors including Future Africa, SSE Angel Network (SSEAN), ARM Labs, CV VC, Startupbootcamp AfriTech, Niche Capital, and Rebel Seed Capital.
Estate Intel
- Founded: 2016
- Founder: Dolapo Omidire
Estate Intel is a Nigerian proptech startup specializing in real estate data analytics across Africa. The startup began as a blog highlighting major building developments in Nigeria and has since evolved into a comprehensive platform offering data on historic rental prices, sale prices, and vacancy rates for thousands of properties across the continent.
This information aids investors and advisors in navigating Africa’s often opaque real estate market.
Key Offerings:
Subscription plans: Estate Intel provides market dashboards with subscription plans for businesses in the real estate and construction sectors.
These dashboards track market sizes, rent and sale prices for residential, office, and retail markets, as well as pipeline and ongoing projects across major African cities.
Additionally, the company has introduced “Vesper,” an automated real estate advisor in public beta, designed to help individuals invest in property through quick value estimates and accurate data.
Recognition: In December 2022, Estate Intel was awarded Africa’s Proptech Company of the Year at the Africa Housing Awards held in Abuja, Nigeria.
This accolade recognized the company’s achievements in utilizing technology to enhance transparency in the African real estate sector.
Recent Development | Funding:
In 2022, Estate Intel secured a $500,000 pre-seed funding round led by MetaProp. This investment facilitated the company’s expansion beyond Nigeria into countries such as Kenya, Zambia, Côte d’Ivoire, Morocco, and Ghana.
The company has also been selected for the Google for Startups Black Founders Fund, receiving up to $100,000 in equity-free funding and additional support.
BuyLetLive
- Founded: 2021
- Founder: Ola Daramola (co-founder/CEO)
BuyLetLive is an online real estate marketplace in Nigeria that connects property seekers with agents and developers, facilitating the buying, renting, and short-term leasing of properties.
The platform aims to simplify real estate transactions by offering a user-friendly interface and innovative tools to enhance the property search experience.
Key Features:
AI-Powered Search Assistant: In April 2024, BuyLetLive introduced “Agent Mo,” Nigeria’s first AI real estate assistant.
This feature enhances the property search process by providing personalized recommendations and insights, making it easier for users to find properties that meet their specific needs.
Neighborhood Experts: The platform collaborates with local real estate professionals who possess in-depth knowledge of various neighborhoods. These experts assist users in finding properties that align with their preferences, ensuring a more tailored and efficient search experience.
Comprehensive Listings: BuyLetLive offers a wide range of property geria, including options for rent, purchase, and short-term leases. The platform ensures that all listings are verified, aiming to build trust and transparency in the real estate market.
Developer and Agent Support: The platform provides tools and servictate developers and agents showcase their properties effectively, reach a broader audience, and generate quality leads. This includes affordable subscription plans and premium marketing strategies to boost property visibility.
Recent Developments:
Website Relaunch: In April 2024, BuyLetLive launched a revamped website with an improved design and user experience. The new platform features faster load times, a modern interface, and enhanced functionalities to better serve property seekers, agents, and developers.
Educational Content: BuyLetLive maintains an active blog that provides valuable insights into the Nigerian real estate market. Topics covered include land survey information, mortgage pre-approval processes, and strategies for low and middle-income earners to save for their dream homes.
BuyLetLive is committed to revolutionizing the Nigerian real estate sector by leveraging technology to create a seamless and transparent property transaction experience.
By connecting property seekers with verified agents and developers, the platform strives to build a trustworthy ecosystem that benefits all stakeholders in the real estate industry.
SmallSmall
- Founded: 2018
- Founders: Tunde Balogun, Naomi Olaghere, and Pidah Tnadah
SmallSmall (formerly, RentSmallSmall) is a Nigerian property technology (proptech) startup that provides on-demand home rental solutions.
The startup’s products include:
RentSmallSmall: This service allows tenants to pay rent monthly, eliminating the traditional requirement for hefty upfront payments. It aligns with Nigeria’s wage system, making housing more accessible and financially manageable.
BuySmallSmall: Designed for aspiring homeowners, this platform offers flexible payment plans, including options like “Buy Now, Pay Later,” enabling individuals to purchase properties with low upfront costs and pay over time.
HouseHMO: Aimed at businesses, HouseHMO provides housing benefits to employees, helping companies attract and retain top talent by investing in their well-being beyond the workplace.
Recent Development | Funding
In October 2022, SmallSmall secured $3 million in seed funding—$2 million in equity and $1 million in debt—to expand its operations and introduce new housing solutions.
Growth: Since its inception, SmallSmall has processed over 25,000 monthly stays across Lagos and Abuja, demonstrating significant traction in Nigeria’s real estate market.
Spleet
- Founded: 2018
- Founder: Akintola Adesanmi
Spleet was founded by Akintola Adesanmi to offer flexible subscription-based rental services that provide access to shared and entire living spaces with options for daily, monthly, and quarterly payments.
Spleet aims to simplify living in Africa by providing efficient and affordable rental management solutions.
The company’s mission is to create a future where landlords and tenants experience seamless rental processes, contributing to improved living standards across the continent.
Key Features:
Flexible Payment Options: Spleet enables tenants to pay rent on a daily, monthly, or quarterly basis, aligning with their financial capabilities and reducing the burden of large upfront payments.
Comprehensive Rental Management: The platform offers a complete rental management solution for landlords and tenants, including tenant verification, automated rent collection, and facility management services.
Quality Living Spaces: Spleet provides access to fully furnished apartments with all-inclusive bills, ensuring a comfortable living experience for tenants.
Recent Developments | Funding
Funding: In October 2022, Spleet secured $2.6 million in seed funding to expand its operations and enhance its product offerings.
Tenant Verification Service: Spleet introduced a tenant verification service to help landlords conduct due diligence and ensure the reliability of potential tenants.
Venco (Venco Platforms Africa)
- Founded: 2022
- Founder: Chude Kenneth Osiegbu, Reagan Mbitiru and Uzochukwu Alor
Venco is a Nigerian proptech startup founded in 2022, offering an all-in-one technology platform designed to enhance living experiences in residential and commercial communities across Africa.
Key Features:
Venco’s solutions streamline processes such as bill payments, visitor access, issue management, and utilities vending, thereby reducing service delivery costs and increasing convenience for property owners, managers, and residents.
By automating the collection and reconciliation of dues and payments, Venco improves revenue collection and profit margins for property owners.
Residents benefit from self-service tools that simplify visitor control, emergency management, and utilities vending.
Additionally, Venco enables residents to build economic profiles based on their financial transactions, granting them access to embedded financial services such as insurance and credit facilitation for rent and household spending.
As of December 2022, Venco had achieved over 200% growth within nine months, operating in six cities and managing more than 12,000 property units across Nigeria and Kenya. Since January 2022, the platform has processed over $10 million in transaction value.
The company has also established partnerships with e-commerce platforms to provide residents with easier access to merchants, and with energy companies to ensure reliable energy metering and collections, thereby enhancing the overall experience in these communities.
In addition to its core services, Venco addresses energy challenges in Nigeria by offering solutions to both commercial clusters and residential communities. Through a process known as vending, Venco provides centralized power solutions, allowing communities to manage and control energy consumption efficiently.
This approach includes the use of prepaid meters and automated vending processes, enabling residents to monitor their energy usage in real-time and reduce costs.
Venco’s innovative approach to community management and its focus on leveraging technology to solve local problems position it as a significant player in enhancing living experiences within African communities.
Recent Development | Funding:
In December 2022, Venco secured $670,000 in an oversubscribed pre-seed funding round led by Zrosk Investment Management, with participation from investors including Voltron Capital, Decimal Point Ventures, Fast Forward Fund, and notable individuals like Tayo Oviosu (CEO of Paga) and Odun Eweniyi (COO of Piggyvest).
This funding was aimed at expanding Venco’s credit delivery infrastructure for rent and household expenditures, as well as facilitating its growth into additional cities and countries across the continent.
PropertyPro Africa
- Founded: 2022
- Founders: Fikayo Ogundipe, Oladapo Eludire, Balogun Sulaiman, and Ayeni Seyi
PropertyPro Africa is a leading real estate technology platform operating across multiple African countries, including Nigeria, Kenya, Zimbabwe, and Uganda.
Founded in 2012 by Fikayo Ogundipe, Oladapo Eludire, Balogun Sulaiman, and Ayeni Seyi, the platform has evolved to become a comprehensive marketplace for property listings, connecting buyers, sellers, and renters with a wide array of real estate options.
Key Features:
Extensive Property Listings: PropertyPro offers a vast database of properties for sale and rent, including homes, apartments, land, and commercial spaces. Users can browse listings with detailed descriptions, photos, and contact information for agents or landlords.
User-Friendly Interface: The platform provides an intuitive and easy-to-navigate website, allowing users to search for properties based on various criteria such as location, property type, and price range.
Agent and Developer Services: PropertyPro offers tools and resources for real estate agents and developers to list properties, reach a broader audience, and manage inquiries efficiently.
Market Insights and Reports: The platform provides market reports and insights, helping users make informed decisions about real estate investments.
Recent Developments:
Expansion across Africa: PropertyPro has expanded its operations beyond Nigeria to include Kenya, Zimbabwe, and Uganda, aiming to create a unified digital platform for real estate across Africa.
Technological Enhancements: The platform continues to innovate by integrating new technologies to improve user experience, such as mobile applications and advanced search filters.
alphabloQ
- Founded: 2023
- Founders: Trevor Kimani and John Mbui
alphabloQ is a digital platform that simplifies real estate investments by enabling individuals to invest in digitized assets such as real estate, bonds, and gold within the digital economy.
Key Features:
Fractional Ownership: alphabloQ allows investors to purchase and sell tokenized property fractions, making real estate investment more accessible to a broader audience.
Diverse Asset Classes: Beyond real estate, the platform offers investment opportunities in bonds and gold, providing a diversified portfolio for investors.
Affordable Entry Point: Investors can start growing their wealth with as little as $100, lowering the barrier to entry for real estate investment.
Recent Developments:
Techstars Accelerator Program: alphabloQ was selected to participate in the inaugural ARM Labs Lagos Techstars Accelerator Program, highlighting its innovative approach in the proptech space.
Expansion in East Africa: The platform has been recognized as one of the innovative proptech companies revolutionizing real estate investment and ownership in East Africa.
Keble
- Founded: 2018
- Founders: Emmanuel Oballa, Adebisi Borokinni, Josemaria Agulanna, Valentine Offiah
Keble is a proptech platform that democratizes real estate investment by enabling individuals to invest in properties with minimal capital, making property ownership and investment more accessible.
Key Features:
Fractional Real Estate Investment: Keble allows users to invest in fractional ownership of properties, enabling participation in the real estate market without the need for substantial capital.
Diverse Investment Options: The platform offers a range of investment opportunities in various currencies, including USD, GBP, and NGN, catering to both local and international investors.
Automated Investment Plans: Users can set up personalized, automated investment plans to achieve their financial goals, whether targeting short-term milestones or long-term wealth accumulation.
Homeownership Plans: Keble provides options for individuals to purchase properties outright or through monthly installments, facilitating homeownership with flexible payment plans.
Recent Developments | Funding
Techstars Accelerator Participation: Keble was selected for the Techstars ’22 cohort, reflecting its innovative approach in the proptech industry.
The company has raised a pre-seed funding round of $270,000 to support its growth and expansion plans.
Bongalow
- Founded: 2019
- Founders: Abdulrahman Atta, Kelechi Nwokocha, Samuel Haruna
Bongalow is a Nigerian-based mobile-powered proptech startup that allows Africans in Africa and around the world to search for the best home loan to buy the property of their dreams.
Aspiring homeowners can use Bongalow’s mobile-powered home financing platform to save for a down payment, shop for a home loan, and access Bongalow’s rent-to-own financing options.
Key features:
The platform offers a range of services, including mortgage pre-qualification, loan application assistance, and personalized mortgage plans tailored to individual financial situations.
Mortgage Pre-Qualification: Bongalow allows users to assess their eligibility for various mortgage options, providing an estimate of the loan amount they can qualify for based on their financial profile.
Loan Application Assistance: The platform guides users through the mortgage application process, ensuring all necessary documentation is completed accurately and submitted promptly.
Personalized Mortgage Plans: Bongalow offers customized mortgage solutions that align with users’ financial capabilities and homeownership goals, making the process more manageable and transparent.
Recent Development | Funding
Bongalow, raised seed funding from UNCOVERED FUND, a Japanese venture capital company focusing on Africa (amount undisclosed). Bongalow seeks to use the capital to solidify its presence in the market.
UNCOVERED FUND’s undisclosed investment is part of a larger seed round that includes Future Africa, Kepple Africa Ventures, ARM, Magic Fund, a Nigerian bank CEO, and a slew of other angel investors.
Backpage:
Key PropTech Market Trends
The proptech market report suggests that sustainability and smart building technologies are major market trends.
Also, the increasing digitalization in real estate, combined with the integration of blockchain technology for secure and transparent property transactions, is driving the market growth.
PropTech in Africa
The proptech market in Africa is gaining momentum, driven by significant real estate developments and a growing focus on smart city projects.
Moreover, the increasing adoption of proptech solutions in high-end residential and commercial real estate sectors is stimulating the market growth.
Additionally, the rising utilization of digital platforms for property transactions and management to modernize the real estate industry across the region is fueling the market growth.
In Nigeria, a PWC publication estimates the value of dead capital in Nigeria’s real estate market at $900 billion.
A large chunk of value especially within the residential and land asset classes in Nigeria are lost due to the opaqueness in the market. Fixing this problem from a private sector perspective will require concerted effort in market research.
