Patamali, a company based in Kenya, has created a revolutionary decentralised finance (DeFi) platform that runs on the Celo blockchain and seeks to alter the real estate financing industry.
Patamali was established in November 2021 by Laura Omanga and Allan Musomba Mulei out of a desire to make accessible finance solutions available.
The founders of Patamali wanted to ensure that individuals and businesses had the opportunity to have access to capital while also providing investors with the opportunity to diversify their portfolios.
Tokenizing real estate assets into non-fungible tokens (NFTs) and locking them into liquidity pools is one of its novel approaches. This provides asset originators with quick funding based on the value of their assets.
According to Patamali, the fact that it brings liquidity to the historically illiquid real estate market is what sets it apart from the competition.
Patamali earns revenue through the charging of asset origination fees to asset originators. These fees are calculated based on the amount of cash that the asset originators borrow by securing their real estate assets within Patamali’s liquidity pools.
Read also: SA student housing startup DigsConnect secures funding from Intab
Patamali has had remarkable uptake
Patamali, according to Omanga, has had “remarkable uptake” ever since it was first introduced, with an ever-increasing number of individuals and organisations embracing its platform as a reliable and efficient means of financing real estate assets. Holders of Patamali tokens (PML) also take an active part in determining the direction the platform will go in the future.
The startup company has, up to this point, been successful in securing funding through the grant programme offered by the Tao Architects Foundation. This programme has provided the firm with the required funds to build its mobile platform and ensure that consumers have an experience that is both seamless and easy to use.
Remarks from the Co-founder of Patamali
“Our journey began with a deep-rooted belief in the power of decentralization and blockchain technology,” said Omanga, founder of Patamali. “We envisioned a financial ecosystem that would be transparent, inclusive, and efficient, empowering individuals, institutions, and asset originators to unlock the value of their real estate assets and participate in peer-to-peer lending and investment opportunities.”
“By tokenising assets and offering tranches within our liquidity pools, investors have the flexibility to tailor their investment strategy to align with their risk appetite and desired returns. We offer senior and junior tranches, each with distinct risk and reward profiles, ensuring a range of options for our valued investors,” Omanga commented.
Estate Intel, a Nigerian startup announces $500k pre-seed round
“Transparency, efficiency, and security are the pillars of our operations. Built on the Celo blockchain, our platform guarantees transparent and fast settlement of transactions, allowing users to track their investments, interest earnings, and portfolio performance effortlessly. We want our users to have complete trust and confidence in every transaction they make on our platform.”
“They can stake their tokens, participate in voting on crucial decisions, propose improvements, and contribute to the development of a decentralised and community-driven ecosystem. Token holders also have access to exclusive platform features and may receive rewards for their active participation,” noted Omanga.
“Our target market encompasses a diverse range of individuals and institutions seeking alternative investment options, secure lending opportunities, and access to liquidity. We cater to asset originators, including real estate developers, SMEs, and individuals holding valuable assets. Additionally, we attract investors, both retail and institutional, who are looking for diversified investment options with competitive returns within the DeFi space.”
“Borrowers accessing capital through our platform also contribute to our revenue stream through fees or interest on the amount borrowed. Additionally, we may charge investors management fees for facilitating their investments and offer token-related services or premium features exclusively available to our valued token holders,” continued Omanga.
“The positive response from the market validates our value proposition and reinforces our commitment to meet the diverse needs of asset originators and investors,” she remarked.
“The overall uptake of Patamali has been promising, with increasing user adoption, successful grant financing deals, and positive market feedback. We remain dedicated to continuous improvement, innovation, and delivering value to our users as we strive to further expand our presence in the market.”she added.