Exciting news to share from the MEST Incubator, which was first shared by Forbes, and has been circulated widely since:
Our very own meQasa, a web and mobile-based real estate platform for Ghana, has raised $500,000 from Frontier Digital Ventures to become the Zillow of Africa. The quick facts:
- Frontier Digital Ventures is a global VC headquartered in Malaysia — a sophisticated investor, experienced and successful history across emerging markets with investments in the largest online classifieds/marketplaces in South Asia, Central America, and Africa
- This kind of sizable financing for early stage tech in Africa is part of an ongoing trend from international VCs in 2015. Another sign that the African tech scene is growing and gaining global notice (see most recently: Omidyar’s investment in Nigeria’s Hotels.ng and EchoVC’s investment in Nigeria’s Printivo)
The full scoop: MeQasa.com, one of Ghana’s leading online real estate classifieds businesses, has secured a $500K investment from Frontier Digital Ventures, a global VC firm headquartered in Kuala Lumpur, Malaysia. Frontier Digital Ventures’ portfolio includes companies in five key frontier regions including Central America, Middle East & North Africa, East Africa, West Africa and South Asia. The investment from Frontier Digital Ventures will be utilized to expand meQasa’s sales and marketing outreach, as well as accelerate the development of its innovative mobile and web service experiences.
“Over the last two years, we have built the meQasa platform and underlying technology to be a leader in the real estate classifieds market in Ghana. We’re thrilled to have come on the radar of an international investor such as Frontier Digital Ventures, who saw the value in our efforts and chose to invest in the potential of this company,” says Kelvin Nyame, CEO of meQasa, who founded the company, along with Rashad Seini and Kofi Amuasi, after they completed the intensive tech entrepreneurship training program at the Meltwater Entrepreneurial School of Technology (MEST). Upon graduation, the company received seed investment funding and support from the globally recognized MEST Incubator, based in W. Africa and Silicon Valley.
“We’re delighted to be partnering with the meQasa team. The business has a strong platform in place and is quickly progressing in what we see as a truly dynamic market in West Africa. The combination of our own online classifieds experience across emerging markets, along with meQasa’s passion and commitment, makes for a powerful combination and opportunity to build an industry leading business in Ghana and beyond.” said Frontier Digital Ventures CEO, Shaun Di Gregrio.
Seeking housing to rent or purchase in Accra and many other major cities across Africa has traditionally proven a difficult task, given the limited options of organized, online tools and platforms available to aid with these types of searches. meQasa has elevated the real estate industry in Ghana by providing a free service that helps brokers, landlords and other real estate industry professionals to conduct business efficiently online, while simplifying the search experience for prospective tenants and buyers.
In addition to its destination website, meQasa produces the “Design Accra” symposium event series, which focuses on real estate and development design trends in Accra. meQasa has also partnered with the Ghana Real Estate Professionals Association (GREPA) to develop one of Africa’s first central real estate property databases.
meQasa is a web and mobile based real estate classifieds platform, which serves as a marketplace for agents, landlords and the property seekers they serve. We create the opportunity for these stakeholders to leverage technology to participate in Ghana’s rapidly growing real estate industry. The platform improves the home listing and search experience, by providing a powerful yet simple search experience, quality controlled listings and offline support to buyers, renters, and sellers. To date, we have hosted over 5,000 listings covering a wide range of property types and across Ghana’s ten geographic regions. For more information, please visit us at www.meqasa.com