Adaverse, a Cardano ecosystem accelerator founded to boost the development of Web3-based solutions in Africa, has unveiled its participation in a fundraising round for Seso Global, an online real estate marketplace leveraging blockchain to reinvent the African real estate industry. The funding round aggregated prominent angel investors such as Ibrahim Sagna, Albert Essien, and Jamie Broderick, as well as venture capital firms including Emurgo Africa, Adaverse, Columbus Angel Network, Moabi Group, Rising Tide, and Kepple Africa Ventures.
Adaverse was launched in September 2021 as a joint venture partnership between EMURGO Africa and Everest Ventures, to identify and provide valuable support resources to promising African founders building the next wave of Web3 dApps in DeFi, NFTs, gaming, metaverse, and more on Cardano’s third-generation and environmentally-sustainable blockchain.
What is Seso Global?
Seso Global is an all-inclusive proptech platform redefining the African real estate business by providing a streamlined and trustworthy property buying experience. Using blockchain technology, Seso provides a marketplace that supports secure and risk-free digital land transactions between property owners, buyers, land agencies, financial institutions, and professionals that service the real estate value chain.
On the Seso platform, property buyers around the world can access a verified database of African landed properties and service companies that includes mortgage providers and legal consultants. Furthermore, the Customer Relationship Management (CRM) feature simplifies portfolio management for property owners, developers, estate agents, and investors with easy uploads of properties and payment options that transcend regional limitations.
Daniel Bloch, the CEO and co-founder of Seso conceived the idea to bolster the African real estate business with a trusted immutable ledger in 2017. Operations began officially in 2019 when the Property management CRM tool was originally launched in Nigeria on a private blockchain built from scratch. Seso has since expanded its services to include other African nations, such as Ghana and South Africa, with sales teams in Dubai, the United Kingdom, and the United States. In 2020, Seso debuted a land registry platform for automated land title processing in South Africa.
Why Seso Global?
At the heart of Seso is a desire to connect all participants in the African real estate ecosystem via a platform that promotes transparency and positive exposure for safe global investment to accelerate African economic growth. Seso addresses the lack of property documentation prevalent in rural Africa by collaborating with the government and establishing a land registry platform that will expedite the processing of title documents, and simplify property ownership and acquisition processes.
"The real estate sector is one of the cornerstones of growth for the rising African economy, but remains largely unexplored in the absence of a reliable and standardized structure. Seso is establishing a Web3-enabled solution to catalyse growth and EMURGO Africa is committed to supporting the remodelling of this dynamic market using the tools on the Cardano blockchain," said Shogo Ishida, co-CEO for the Middle East & Africa at EMURGO Africa,
Sub-Saharan Africa has a rapidly increasing population and one of the fastest-growing Gross Domestic Products (GDP) in the world, which is anticipated to reach $29 billion by 2050. However, due to excessive capital exportation by affluent Africans and unfavourable land-use policies, the sector lacks confidence and security, which significantly impedes its anticipated growth pace. With its versatile proptech blockchain software, which now serves over 70 developers and 7,000 properties in three African nations, Seso intends to extend its operation by issuing tokens on the Cardano blockchain to improve asset liquidity for global investors. Seso has decided to build on Cardano to leverage a low-cost and energy-efficient Blockchain that should have more adoption among stakeholders in Africa.
“This partnership is key for Seso Global as it provides us with necessary partners and experts to expand our Web3 offerings. We are now seeing the growth of Blockchain real estate solutions and with Adaverse, Seso will be a trailblazer for the industry in Africa. We are confident that Cardano will see strong growth in Africa due to its lower energy needs and cost of the Blockchain.” says Daniel Bloch, CEO and co-founder of Seso Global.
Vincent Li, founding Partner at Adaverse is excited about this investment and commented; “Seso breaks the diasporan barrier limiting the development of real estate in emerging economies by onboarding the real estate marketplace on a trusted immutable platform to boost global investment in Africa. We will support the next phase of expansion and help drive the projected revenue target in the coming years.”
Adaverse is a catalyst for the Cardano ecosystem in Africa dedicated to invest, mentor and provide tech support for African startups building the next wave of Web3 decentralized applications including NFTs, DeFi, and others on Cardano’s third-generation blockchain.
Adaverse offers a strong accelerator program and funding that covers early-stage startups ranging from an idea to post-revenue series A ventures. Since its launch in 2021, through a joint venture partnership between EMURGO Africa and Everest Ventures, Adaverse has concluded strategic investment in thirteen (13) crypto-native startups building the future of Africa’s digital economy.
Adaverse is open to applications from founders all year round. Apply for funding here.
Check out an array of verified and documented properties listed on Seso Global here.