Baobab Network invests in RentScore | Tom Fairburn posted on the topic | LinkedIn
Summary
Baobab Network recently invested in RentScore (Baobab 24), a proptech with a vision to empower a new generation of #homeowners in Kenya \U0001f1f0\U0001f1ea Here are five reasons we built conviction to invest: 1. REA and David Kimani PMP\xae with over 15 years of combined experience in real estate, asset management and technology \U0001f680 2. Under-indexing: a recent report by the Kenya Mortgage Refinance Company suggests that Kenya massively under-indexes versus its peers when it comes to mortgages. Kenyas residential real estate sector is worth north of $650bn annually according to Statista, and is forecast to grow at 5.15% CAGR between 2024-2029 \U0001f4c8 4. Rentscores focus on urban middle-income earners: one of the fastest growing demographics in Kenya, who can afford a mortgage or property loan but current products in the market are expensive or unattractive \U0001f4b5 5.