ToLet.com.ng, one of Nigeria’s foremost online real estate market place has just raised 1.2 million dollars in a Series A funding round led by Frontier Digital Ventures. They aim to use this to expand to other parts of Nigeria and improve the company’s marketing strategy.
Fikayo Ogundipe, the co founder and spoke about the new funds generated saying:
“The new funds raised will be used to improve the platform’s technology offering to both property seekers as well as that used by listing agents. The rest of the funds will be channeled into improved marketing efforts and aggressive expansion across Nigeria over the next 12-18 months.”
Also speaking on the investment, Frontier Digital Ventures founder and CEO, Shaun Di Gregorio said, “We are super excited to be making this investment into ToLet.com.ng, and look forward to being part of helping fuel their next stage of accelerated growth. We have full confidence in the ability of the founding team to continue with the awesome job they have already started and we look forward to the consolidation of their position as the Number One property classifieds portal in Nigeria.”
Spark co-founder Bastian Gotter, commenting on the fresh investment, said, “We are very excited to welcome Frontier Digital Ventures (FDV) to the ToLet.com.ng family, as a long term thinking and very knowledgeable partner. We believe this new fundraise gives the ToLet management team the capital to scale, and as well serves as validation for what they have achieved already. We are looking forward to seeing ToLet.com.ng win big and change the real estate industry in Nigeria. ”
ToLet.com.ng is one of the first thirteen companies to have received seed funding from Spark.ng in 2013, and since have become one of the most prolific online property websites in Nigeria.
