Nigeria - Business creation project

Describe your project or startup in a few words

Layta provides quick financing for real estate developers in Nigeria, repaid through a predetermined number of completed project units, ensuring liquidity and project completion while addressing the significant housing deficit.

01.01 Describe your project in more detail

Layta is a fintech startup focused on revolutionizing real estate development in Nigeria. We provide fast, efficient financing solutions to real estate developers who face cash flow constraints and lack working capital. Our innovative Joint Venture (JV) model funds projects typically completed within six months. Developers repay the financing by allocating a predetermined number of completed units to Layta, sold in a 2:1 ratio alongside their own units. This ensures that Layta receives consistent revenue while enabling developers to complete projects and reduce Nigeria’s housing deficit. By addressing the significant issue of abandoned projects and leveraging advanced technology for project management and sales, Layta is poised to transform the real estate landscape in Nigeria.

01.02 What is the main problem you are trying to solve?

The main problem Layta is trying to solve is the severe cash flow constraints and lack of working capital that real estate developers in Nigeria face, which lead to project delays, abandoned projects, and contribute to the country's significant housing deficit

01.03 Tell us the major benefits and/or advantages of using the product/service that your project intends to provide (at least 3).

1. Quick Access to Capital: Layta provides real estate developers with fast and efficient financing, enabling them to overcome cash flow constraints and proceed with their projects without delays. 2. Reduced Risk of Abandoned Projects: By ensuring developers have the necessary funds to complete their projects, Layta significantly reduces the risk of abandoned projects, which are a common issue due to financial shortfalls. 3. Revenue Sharing and Sales Support: Layta’s innovative repayment model involves taking a predetermined number of completed units, which are sold in a 2:1 ratio alongside the developer's units. This not only ensures Layta’s revenue but also supports developers in selling their units more effectively, providing mutual financial benefits.

01.04 Please describe who exactly your project is aimed at serving. Who are the targeted beneficiaries?

Layta primarily serves real estate developers in Nigeria by providing quick, efficient financing to address cash flow constraints and complete projects. This benefits homebuyers by increasing housing availability and addresses the significant housing deficit. Additionally, it sustains jobs for construction workers and industry professionals, offers secure investment opportunities for investors, and promotes community development through completed housing projects and job creation.

01.05 When did you start working on your project?

2023-11-01

01.06 How many other partners are associated with your business venture?

1

01.07 Among the other partners, how many are female?

0

01.08 Please describe the profile of each of the other partners (skills, experience, etc.)

Emmanuel Olagundoye is a Frontend Engineer with over 5 years of experience developing software solutions for companies.

01.09 If you have a website, a social media page (Facebook, Instagram, Linkedin…), or app, please provide the link here:

01.10 Which industry best describes your project?

k) Property (real estate)

02.01.01 My project contributes to the No poverty goal

7 - Strongly Agree

02.01.02 No poverty - Justification

By ensuring continuous construction projects, Layta creates jobs and income opportunities for construction workers and industry professionals.

02.02.01 My project contributes to the Zero hunger goal

6

02.02.02 Zero hunger - Justification

By providing financing to developers, construction workers are able to stay on the job and earn a living

02.03.01 My project contributes to the Good health and well-being goal

2

02.03.02 Good health and well-being - Justification

N/A

02.04.01 My project contributes to the Quality education goal

1 - Strongly Disagree

02.04.02 Quality education - Justification

N/A

02.05.01 My project contributes to the Gender equality goal

3

02.05.02 Gender equality - Justification

N/A

02.06.01 My project contributes to the Clean water and sanitation goal

1 - Strongly Disagree

02.06.02 Clean water and sanitation - Justification

N/A

02.07.01 My project contributes to the Affordable and clean energy goal

1 - Strongly Disagree

02.07.02 Affordable and clean energy - Justification

N/A

02.08.01 My project contributes to the Decent work and economic growth

7 - Strongly Agree

02.08.02 Decent work and economic growth - Justification

Layta's financing model stimulates economic growth by reducing abandoned projects and promoting steady real estate development.

02.09.01 My project contributes to the Industry innovation and infrastructure

6

02.09.02 Industry innovation and infrastructure - Justification

Layta supports infrastructure development through completed housing projects and innovative financing solutions.

02.10.01 My project contributes to the Reduced inequalities goal

1 - Strongly Disagree

02.10.02 Reduced inequalities - Justification

N/A

02.11.01 My project contributes to the Sustainable cities and communities goal

7 - Strongly Agree

02.11.02 Sustainable cities and communities - Justification

Layta addresses housing deficits by enabling the completion of more housing units, contributing to sustainable urban development and improved living conditions.

02.12.01 My project contributes to the Responsible consumption and production goal

1 - Strongly Disagree

02.12.02 Responsible consumption and production - Justification

N/A

02.13.01 My project contributes to the Climate action goal

1 - Strongly Disagree

02.13.02 Climate action - Justification

N/A

02.14.01 My project contributes to the Life below water goal

1 - Strongly Disagree

02.14.02 Life below water - Justification

N/A

02.15.01 My project contributes to the Life on land goal

2

02.15.02 Life on land - Justification

02.16.01 My project contributes to the Peace justice and strong institutions goal

1 - Strongly Disagree

02.16.02 Peace justice and strong institutions - Justification

N/A

02.17.01 My project contributes to the Partnerships for the goal

7 - Strongly Agree

02.17.02 Partnerships for the goal - Justification

05.01 There are a large number of customers who already use a product/service very similar to the product/service we envision creating.

1 - Strongly Disagree

05.02 The product/service we envision creating represents an entirely new type of product/service.

7 - Strongly Agree

05.03 The product/service we envision creating could be described as a new technology.

7 - Strongly Agree

05.04 The product/service we envision creating is an improvement on an existing product or service.

3

05.05 The product/service we envision creating could be described as an extension of a range of products or services.

1 - Strongly Disagree

05.06 The product/service we envision creating responds to a demand or need that has not been satisfied by other products/services.

7 - Strongly Agree

05.07 The product/service we envision creating is a new version of an old product/service.

2

05.08 Justification

05.09 Who are your main potential competitors and what makes you stand out from them?

Traditional Banks and financial institutions. We stand out due to our unique domain expertise of the problem and the market.

10.06 Are you initiating actions within your community to promote the role of female entrepreneurs?

No