Nigerian real estate investment startup Cribstock is enabling users to become landlords quickly by purchasing shares of properties that generate monthly rent from Lagos tenants. Launched in 2021, Cribstock allows users to own fractions of properties and earn a portion of the rental income. The platform has gained traction with 17,000 potential retail investors and four listed properties. The company aims to expand its offerings to 12 properties by February of the following year. While currently operational only in Nigeria, Cribstock plans to enter the US market eventually. Although not yet profitable, the startup has generated $20,000 in revenue in the last quarter. The platform earns commissions of up to 5% from property deals and up to 15% from rental income.
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