Ule Homes isn’t really solving rent. It’s building Nigeria’s credit system
- Ulé Homes won TechCabal's Battlefield competition, emphasizing credit as the future for Nigeria.
- Since August 2024, Ulé Homes has financed ₦700 million in rent for 179 customers, reporting payments to credit bureaus.
- The average customer finances ₦3.9 million in rent, prioritizing consistent monthly payments to build credit history.
Ulé Homes is effectively addressing a critical gap in Nigeria's credit infrastructure by leveraging rental payments to build credit histories. This innovative approach not only helps individuals access loans and mortgages but also promotes financial inclusion in a country where many remain outside formal credit systems. The company's growth trajectory post-competition suggests a promising future, but it will need to navigate cultural attitudes towards debt and the complexities of customer acquisition.
