Procrowdy, a Nigerian proptech startup, has received a crowdfunding intermediary (CFI) license from the Securities and Exchange Commission (SEC).
Williams Omoruyi, Propcrowdy’s Head of Product Design, confirmed the news in a press release.
Procrowdy is the first platform in Nigeria to receive the licence as a result of this development.
The firm promotes itself as an inclusionary crowdfunding investing platform that allows those earning minimum wage to gain access to and climb the African real estate investment ladder.
Propcrowdy will be able to use the licence to assist investors in tapping into the lucrative real estate market.
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“At Propcrowdy, we are solving the twin problem of social impact and inclusiveness for those at the bottom of the pyramid and creating wealth and economic development for small and medium-sized real estate developers,” Omoruyi explained.
Procrowdy crowdfunding license
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard