Online property portal CasaMozambique has partnered Barclays Bank to offer its users online home loans, the first time such a service has been made available in the country.
Online property classifieds platform CasaMozambique launched in June 2013 as Propertymaputo.com, rebranding in May of last year after raising funding from international investment firm Frontier Digital Ventures.
It is now expanding its business model from a simple property vertical to a more holistic market approach consisting of online classifieds, print and digital media publishing, brokerage services, and event production.
The partnership with Barclays, according to CasaMozambique founder and chief executive officer (CEO) Bryan Wester, propels the local real estate market forward by simplifying the process of obtaining home loans.
“The partnership allows both parties to reach a wider audience with a modernised approach in applying for home loans,” he said.
“By adding congruent facets to the business we’re able to reach more people and impact their lives for the better. Mozambique is a frontier market and we intend to provide suitable services adapted to local needs.”
Wester said the startup now felt it was covering the major segments of a portal model, and would continue to produce positive results from monetisation activities initiated at the end of 2016.