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Nigerian startup launches construction funding platform

Nigerian startup Landhouse has launched a platform that allows for the crowdfunding of property development, allowing users to build their own houses and take stakes in other properties.
Image source: Lacobrigo, CC BY-SA 3.0, Wikimedia Commons

Founded last month by Nwosu Friday after he closed his agri-tech startup Yesharvest, Landhouse allows Nigerians to crowd-invest in new developments, allowing them to pay over time.

“We will make this possible through joint venture with landowners, by equally distributing both the land and construction costs among the apartment owners in the building, and letting them pay on a milestone basis over the construction period,” Friday told Disrupt Africa.

“It’s like carpooling, but for home ownership. It reduces each person’s cost of owning a home, reduces the stress of getting permits and building, reduces commute time, and maximises available land space.”

The aim of Landhouse is to solve the affordable housing deficit in Nigeria, with the self-funded startup already collecting subscribers for the first construction, which will begin in December.
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Disrupt Africa
Disrupt Africa is a one-stop-shop for all news, information and commentary pertaining to the continent’s tech startup – and investment – ecosystem. With journalists roaming the continent to find, meet, and interview the most innovative and disruptive tech startups, Disrupt Africa is a true showcase of Africa’s most promising businesses and business ideas.

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About Tom Jackson

Co-founder @DisruptAfrica. Tech and business journalist in Africa. Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.
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