Seso Global: Building a Blockchain-enabled Property Marketplace in Nigeria
The mutual aspiration of addressing the housing shortage and improving real estate market efficiency led Daniel and Phillip to co-found Seso Global in 2017. Seso Global developed a unique integrated platform to streamline and rationalize the process of acquiring and financing a home in Nigeria. In particular, the Seso team aimed to create a blockchain-enabled ledger of land titles to address a key challenge of Nigerian real estate and mortgages market: ensuring rightful ownership of properties. Their platform combined a land registry management and query portal, a property and mortgage marketplace, and a land service provider marketplace. However, VC investors had been grilling them on their business and revenue model. On the other hand, the impact investors they had talked to were focused on whether their activity would have an effect at the bottom of the pyramid. Pondering on the comments made by the VC, Daniel and Phillip were discussing which part of the platform to prioritize. What should be the focus of their business model? Who should be their main clients? Answers to these questions would be key to win over investors and scale up their operations.
Keywords: fintech; Blockchain; developing markets; entrepreneurial management; Financing and Loans; Online Technology; Business Model; Growth and Development Strategy; Developing Countries and Economies; Real Estate Industry; Africa; Nigeria;
Citation:
Vallee, Boris, and Yang (Dolly) Yu. "Seso Global: Building a Blockchain-enabled Property Marketplace in Nigeria." Harvard Business School Case 220-055, February 2020. View Details