Tekedia Capital welcomes Propaya (propaya.com) to our portfolio. Propaya is an AI automation application for rental property managers. By uploading a lease PDF, Propaya will handle everything from rent collection, utility transfer, to recommending local contractors and handymen. That rent collection is very important under One Oasis & Double Play strategy which I have written extensively in Harvard Business Review.
You may see Propaya as a real estate tech company, but here, we see it as a fintech company with focus on real estate. As it gathers momentum, financial transactions from the owners to the handymen will happen therein, even as renters use it to pay rents.
Do those rental business investments; leave the rest for Propaya. Many Americans like the extra income but they do not like the challenges of fixing broken pipes, keys, etc for their tenants. Propaya is an operating system and a payment partner, for end-to-end management. This industry is huge and when you think of the volume of rents paid, you get the idea while the Team (Reader Wang, Jake Golas, etc) is on a mission.
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Tekedia Capital (capital.tekedia.com) thesis is that the fintech of the future will be native sector companies. In other words, you need to be embedded in a sector to serve the players on payments. That thesis was validated when Lagos-based TAP focused on transportation, and then earned the ability to collect payments for transporters, and in the process became the largest and most dominant micropayment company in Africa. We expect that to play out in America with Propaya, but in the real estate sector.
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