Leading Online To-Let Startups in Africa
There was a time, in a not-so-distant-past, when renting a new flat in any African city could be a really arduous task. Back then, the first step towards renting a new place entailed walking around the neighbourhood you’d like to live in, while keeping an eye out for “to-let” signs. Some people would also choose to walk from one compound to the other, enquiring from tenants and landlords if there were vacant flats. Although there were some established estate agents back then, their services were usually only tailored towards high net-worth instead of the average African. More over, locating these agents was often quite as difficult as finding vacant flats to rent.
But all that has changed with the advent of the internet and various online to-let startups. These startups make it a lot easier to rent and even buy properties. Without a doubt, online to-let startups make up an integral offshoot of the tech revolution that is making our lives a lot easier.
That said, let us now briefly take a look at the leading online to-let startups across the African continent. These startups are arranged in no particular order of priority.
Nigeria Property Centre
Founded in April 2011 by Nnamdi Chineme, Nigeria Property Centre is undoubtedly one of the most dominant property websites in Nigeria and across much of Africa. On this website, you can easily find homes for rent/sell as well as lands, all listed by thousands of duly verified agents. By simply searching words like “rent a mini flat in Lagos” on your browser, you will be presented with a wide array of options to choose from.
This startup has since expanded into other African markets. Currently, you have: Kenya Property Centre, Ghana Property Centre, Uganda Property Centre, and Ethiopia property Centre, and everyone of these has become a major player in each of these markets.
Established in 2012, this Nigerian company is one of the first to emerge on the online property space. It was co-founded by Fikayo Ogundipe (currently the CEO), Dapo Eludire (COO), Muyiwa Kolawole; Seyi Ayeni (CTO), and Sulaiman Balogun. For about six years, the company was known as ToLet.NG until its 2018 rebranding exercise which transitioned the company to its current brand name. Prior to that event, the company had acquired Jumia House, the property rental company which was a subsidiary of e-Commerce giant, Jumia.
PropertyProNG has so far raised $1.4 million from two major investors namely Frontier Digital Ventures and Spark. Although still headquartered in Nigeria, PropertyproNG announced in December 2020 that it was planning to expand into more African countries. Currently, you can get the service in Kenya and Tanzania…
EDITOR’S NOTE: There’s more. Keep reading on page 84 of our 20 Trending and most Profitable Businesses in 2021 edition. Click here to read it.
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