Jumia House

Jumia House operated as an app-based, online property listing platform within the Nigerian real estate market. The company was founded in 2013 by Manuel Koser and was based in Lagos, Nigeria. It functioned as a subsidiary of the broader Jumia Group, an e-commerce entity established in 2012 by a team including Tunde Kehinde, Raphael Kofi Afaedor, Jeremy Hodara, and Sacha Poignonnec.

The platform's primary business was to connect property seekers with real estate agents, landlords, and developers. It provided a digital marketplace for users to search for various properties, including homes, land, and commercial real estate for rent or sale. Jumia House was part of a larger strategic initiative by its then-parent, Africa Internet Group (AIG), which aimed to establish dominant online businesses across multiple sectors in Africa. In 2016, AIG and its various ventures, including the real estate portal then known as Lamudi, rebranded under the unified Jumia name, with Lamudi becoming Jumia House to consolidate brand identity and create a comprehensive e-commerce ecosystem.

The business model centered on providing a comprehensive database of properties, empowering users with information to make better-informed decisions. For real estate professionals, it offered a digital marketing channel to reach a wider audience of prospective tenants and buyers. Revenue was generated primarily through subscription fees charged to real estate agents for premium plans that offered enhanced visibility and features on the platform. In November 2017, Jumia House Nigeria was acquired by ToLet.com.ng, a competing local property portal, for an undisclosed amount. The acquisition, backed by investor Frontier Digital Ventures, was a strategic move by ToLet.com.ng to consolidate the market. Following the transaction, the combined platforms, which included ToLet.com.ng's 60,000 listings and Jumia House's 22,000 listings, were merged and rebranded as PropertyPro.ng, creating Nigeria's largest online real estate marketplace with an estimated 65% market share. Keywords: Jumia House, Lamudi Nigeria, PropertyPro.ng, ToLet.com.ng, online real estate marketplace, property portal Nigeria, real estate classifieds, property listings, Nigerian proptech, real estate technology, online property search, digital real estate, Frontier Digital Ventures, Jumia Group, Africa Internet Group, real estate acquisition, Manuel Koser, Fikayo Ogundipe, Sulaiman Balogun