Nigeria’s online real estate company ToLet, has formally announced a change of name to PropertyPro.ng.
Recall that the property search and eCommerce site, ToLet, acquired Jumia House website [Lamudi] for an undisclosed amount after the latter’s parent company, Rocket Internet had to divest from non-core eCommerce businesses.
Commenting on the new development Fikayo Ogundipe, Co-founder, and CEO of PropertyPro.ng noted that the name change reflects the company’s broader commitment and its expertise in driving the innovations needed to shape the future of real-estate search solutions.
“THe business model is based on connecting real estate players, it recognizes the importance of user protection and has taken extra steps to ensure the quality of listings, agents and clients on the site through its verification process.”
He further revealed that the new PropertyPro.ng platform is ready for use via the android app but still accessible on desktop and mobile.
Several e-commerce platforms in the country are struggling to survive due to harsh economic conditions coupled with high cost of data and power some had to either shut down their non-core units or be acquired by competitiors.
Recently Yudala and Konga announced the merger of their operations which will see them effectively become the biggest organized retail and e-commerce/marketplace outfit on the African continent.
ToLet.com.ng was founded in February 2013 by Fikayo Ogundipe, Sulaiman Balogun, Oladapo Eludire and Oluwaseyi Ayeni. The company was started with the aim of reaching out to agents and property owners to change the concept of property search in Nigeria.