PropertyPro.ng

PropertyPro.ng
Screenshot
Mobile View Of PropertyPro.ng Website.
Type of site
 Online Estate Agents
Available in English
Founded February 4, 2013 (2013-02-04)
Headquarters Lagos, Nigeria
Area served Nigeria
Founder(s)
  • Fikayo Ogundipe
  • Sulaiman Balogun
  • Oladapo Eludire
  • Oluwaseyi Ayeni
Industry Internet,Real Estate
Website www.propertypro.ng
Registration Guest checkout available on site, registration required to sell
Current status Active

PropertyPro.ng is a Nigeria web-based platform for property rentals and sales. The company was founded in February 2013[1] with a vision of re-organizing the rental market in Nigeria that was soiled as a result of trust issues and fraud.[2] In a bid to tackle the trust and fraud issues, the company created a system that exercises a lot of control on how participating agents offer their services. The agents are expected to conduct their business and customer relations in line with Tolet’s prescribed code of business conduct.

History

The company started with the founders' collective personal savings of $400 in 2012.The company was founded in February 2013 by a team of four visionary young men: Fikayo Ogundipe, Sulaiman Balogun, Oladapo Eludire, and Oluwaseyi Ayeni.

The company started by reaching out to landlords and agents in Lagos. ToLet.com.ng is one of Spark’s (Jason and Bastian’s “accelerator” fund) portfolio companies. Spark is the sole investor in Tolet.com.ng with $240,000 invested in the startup to date. As of July 2016, the company has roughly 20,000 listings online. In September 2016, Tolet.com.ng raised $1.2m in a Series A funding round led by Malaysia-based Frontier Digital Ventures.[3]

The company employs area specialists who inspect all properties before posting them on the website. The website started off as a rental property focused service, before its adoption of sales properties 11 months ago.[4]

Acquisition of Jumia House Nigeria

ToLet acquired Jumia House Nigeria for an undisclosed amount. ToLet and Jumia House Nigeria will merge platforms under the new name of PropertyPro.ng[5]

ToLet.com.ng rebrands as PropertyPro.ng

ToLet.com.ng on the 16th of April 2018 officially announced her transitioning into PropertyPro.ng via social media pages, change of usernames, press releases and features from media houses in Nigeria[6] .The launch event also brought about the announcement of the new website mobile app for free downloads on Play Store.


References

  1. ↑ "Interview with the African startup ToLet.com.ng, The home of property search in Lagos Nigeria". The Startup Magazine. 2014-05-16. Retrieved 2017-11-10.
  2. ↑ "ToLet Celebrates 1st Year Anniversary With 3000+ Properties | Set to be Nigeria's Top Letting Agency - TechMoran". 2014-03-24. Retrieved 2016-09-07.
  3. ↑ "ToLet.com.ng just raised over ₦500 million". techpoint.ng. Retrieved 2017-03-09.
  4. ↑ "10 Nigerian tech companies to watch". howwemadeitinafrica.com. How we made it in africa.
  5. ↑ "Online real estate startup ToLet acquires Jumia House Nigeria to create PropertyPro.Ng". TechCrunch. TechCrunch.
  6. ↑ "ONLINE PROPERTY CLASSIFIEDS PORTAL, TOLET.COM.NG, CHANGES NAME TO PROPERTYPRO.NG". Innovation Village. Staff Writer.
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