Nairametrics
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections
No Result
View All Result
Nairametrics
No Result
View All Result
Home Industries Corporate Updates

Vank Wallet, Prop-Tech Startup Hopes to Change Nigeria’s Property Market

NM PressbyNM Press
2 months ago
in Corporate Updates, Industries
Vank Wallet, Prop-Tech Startup Hopes to Change Nigeria’s Property Market

Daniel Essien, Founder Vank Wallet

Share on FacebookShare on TwitterShare on Linkedin

A Nigerian prop-tech startup has launched a revolutionary platform that promises to change the way people buy, sell, and own property. The platform launched by the prop-tech startup Vank Wallet (www.vankwallet.com) will evidently deregulate the ownership structure of property giving everyone an opportunity to have a slice of the prop cake has been described as nothing but revolutionary by market watchers.

According to the promoters of the platform, Vank Wallet aims to bring innovation and seamless transactions in the property market across the country. The startup deploys a state-of-the-art digital wallet built on Blockchain technology that allows users to buy, sell, borrow against and manage vetted real estate.

Founded in 2021 by Daniel Essien, Vank Wallet is a one-stop shop for users to do everything real estate, including pooling resources to buy property as a group. The platform is designed in such a way that users who cannot afford the outright purchase of a property can buy only a fraction of real estate with friends or members of our cooperative to get all the benefits of property ownership without breaking the bank.

The startup appears to be the answer to many Nigerians who worry over the preponderance of quack estate agents, and criminal elements within the property sector. To address the rising issues of fraudulent practices in the sector, Van Wallet works by ensuring the legal details of property ownership are adhered to. “We basically get a property, get a reputable third-party law firm to conduct rigorous due diligence on it and, when we are satisfied with the documentation and status of the property, we acquire it and make it available for subscribers to buy individually or as a group. Our users can buy every property listed on VANK Wallet with the reassurance that the titles are good and ownership will transfer securely to them”.

According to the founder, Vank Wallet promotes financial inclusion by enabling users to access and manage real estate cheaply using just their mobile phones. Moreso, “the company carries out very rigorous due diligence and provides useful location information on the listed property so users can trust that they are buying a genuine property with no burdens,” he added.

Describing the process, Mr Essien noted that “when the platform gets a property, it first conducts rigorous due diligence on it and, when we are satisfied with the documentation and status of the property; we acquire it and make it available for subscribers to buy individually or as a group. Our users can buy every property listed on VANK Wallet with the reassurance that the titles are good and ownership will transfer securely to them.

Speaking on the growing tech ecosystem in Nigeria, Mr Essien said that the Nigerian tech industry is blossoming with many new ideas testing the market every year. Additionally that more of the technology startups that have recently emerged are focused on solving real problems with homegrown approaches compared to maybe a decade ago.

This he said was made possible because of key factors such as a growing tech-savvy population, better mobile phone penetration, and ease of identification with the BVN and NIN. On what inspired Vank Wallet to launch its products into the market, VANK Wallet founder said that the success of some leading tech firms in Nigeria these companies is a great inspiration for his company “as we build the technology to enhance the real estate market which is still very traditional.

Buoyed by the recent tapping by the prestigious CATAPULT programme by the LHoFT Foundation to apply for this year’s Financial Inclusion edition, VANK Wallet sees that as a validation of its model.

The startup is working assiduously to bring some pipeline features forward to support users’ financial inclusion even more. As a result, a lot of upgrades happened within six months. “We sold our first project in December and have enabled payment by instalment and introduced our Real Estate Virtual Agent programme to empower our growing community of users to earn income with the property listed on VANK Wallet. We are now onboarding our Lagos project. Our growth has been rapid. In five years, VANK Wallet would be an established niche leader and expanded to multiple international markets,” he added.

Moreso, efforts are being made to bring some pipeline features forward to support users’ financial inclusion even more through a lot of upgrades which happened within the last six months. The CEO is upbeat about the nearest future as he steers the startup to dream expansion into multiple international markets.

“We will remain true to our vision of being the most trusted, secure, and compliant real estate wallet. But we will continue to innovate as leaders in this niche, helping our users buy, sell, borrow against, and manage secure real estate,” he said.

 

 

Related

Tags: Vank Wallet

Leave a Reply Cancel reply

Press one
hfm
Mega Millions
fidelity banner
SME
HFM
Patricia





NM newsletters

Business News | Stock Market | Money Market | Cryptos | Financial Literacy | SME |

Recent News

  • FUGAZ gain N137 billion in first quarter of 2023
  • Cadbury ingenuity kept it profitable but the headwinds are raging
  • NGX All-Share Index defies election jittery, economic headwinds gains 5.8% in Q1 2023

Follow us on social media:

Recent News

FUGAZ gain N137 billion in first quarter of 2023

FUGAZ gain N137 billion in first quarter of 2023

April 1, 2023
Cadbury Nigeria Plc reports N1.29 billion pre-tax profit for FY 2022

Cadbury ingenuity kept it profitable but the headwinds are raging

April 1, 2023
  • Download Nairametrics iOS App
  • Download Nairametrics Android App
  • Home
  • Exclusives
  • Markets
  • Industries
  • Economy
  • Business News
  • Financial Literacy
  • Opinions

© 2023 Nairametrics

No Result
View All Result
  • Home
  • Exclusives
    • Financial Analysis
    • Corporate Stories
    • Interviews
    • Investigations
    • Metrics
  • Markets
    • Currencies
    • Cryptos
    • Commodities
    • Equities
      • Dividends
      • Stock Market
    • Fixed Income
    • Market Views
    • Securities
  • Industries
    • Company News
    • Consumer Goods
    • Corporate Updates
    • Corporate deals
    • Corporate Press Releases
    • Energy
    • Entertainment
    • Financial Services
    • Hospitality & Travel
    • Manufacturing
    • Real Estate and Construction
    • Tech News
  • Economy
    • Nairalytics
    • Macro-Economic News
    • Research Analysis
    • Budget
    • Public Debt
  • Business News
  • Financial Literacy
    • Career tips
    • Personal Finance
  • Lifestyle
    • Billionaire Watch
    • Profiles
  • Opinions
    • Blurb
    • Op-Eds
  • 2023 Elections

© 2023 Nairametrics

error: Alert: Content selection is disabled!!