Nigerian real estate investment firm Landwey has acquired a 25% stake in Lagos-based proptech platform Vistafront.
Vistafront’s LinkedIn profile states that it was founded earlier this year.
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While it’s not clear who the founders are, but an article by Nigerian newspaper This Day on Tuesday (20 August) has it that the company’s managing director is Segun Ajuwon.
The startup’s platform helps users co-fund real-estate projects from 25 000 nairas per unit on a six month cycle for 12% returns. The platform, also lets users monitor projects through its dashboard feature.
Vistafront announced the deal in a post on its Twitter account Saturday (17 August) last week. It is not clear how much Landwey acquired the 25% stake for.
Vistafront was founded earlier this year
Both Landwey and Vistafront had not responded to Ventureburn’s request to comment on how much the deal is worth at the time of publication.
Nigerian tech publication Techpoint reported in an article on Tuesday (20 August) that one percent of every unit funded on Vistafront’s platform goes toward social infrastructure impact projects.
These said the tech publication include schools, community homes, hospitals and other social amenities aimed at the less privileged.
Vistafront says on its website that it takes between two and six months to complete the vetting process for any infrastructure project featured on its platform.
Featured image, left to right: Lendaway founder Olawale Ayilara and Vistafront managing director Segun Ajuwon (Twitter)
