Kenyan startup Patamali has developed a decentralized finance (DeFi) platform on the Celo blockchain, aiming to transform real estate financing. Founded in November 2021, Patamali focuses on providing accessible financing solutions by tokenizing real estate assets as non-fungible tokens (NFTs) and locking them into liquidity pools. This allows asset originators to access immediate capital based on the value of their assets. Patamali differentiates itself by introducing liquidity to the traditionally illiquid real estate market. The platform offers senior and junior tranches, providing investors with flexibility and various risk and reward profiles. Built on the Celo blockchain, Patamali ensures transparency, efficiency, and security in its operations. Token holders of the Patamali token (PML) can participate in voting, propose improvements, and contribute to the development of a decentralized ecosystem. The target market includes individuals, SMEs, and institutions seeking alternative investment options and secure lending opportunities. Patamali generates income through asset origination fees from asset originators and fees or interest from borrowers. The startup has received funding through the Tao Architects Foundation grant program to develop its mobile platform and enhance user experience. Patamali has seen remarkable uptake and aims to continue expanding its presence in the market while delivering value to users.
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