First Homes Africa
- Company typePrivate
- Founded2019
- HeadquartersLagos, Nigeria
- Headcount11–50
- GTM typeB2C
- OfferingServices
First Homes Africa firmographics
Firmographics- Name
- First Homes Africa
- Legal name
- FirstHomes Africa Limited
- Website
- https://firsthomesafrica.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
First Homes Africa industry classification
Industry- Product category
- Affordable Housing Services
- akta.pro primary industry
- Affordable Housing & First-Time Buyer Brokerage (BPAJAAAD)
Keywords
Where First Homes Africa is headquartered
LocationHeadquarters
- HQ city
- Lagos
- HQ country
- Nigeria
- HQ region
- Africa
Offices1 record
Markets served
First Homes Africa business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain
Revenue model
- Monthly Equity Contributions: Customers make regular monthly contributions over 12 months to qualify for property allocation, followed by lease-to-own payments over 10-15 years. The monthly savings continue during the lease period to build equity towards full ownership.
- Lease-to-Own Contract Payments: After qualification, customers enter 10-15 year lease-to-own contracts with ongoing monthly payments that contribute to property ownership.
- Referral Program Fees: The company generates engagement through referral bonuses (N5,000 per referral) and welcome bonuses (100% match up to N500K) to drive user acquisition.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | Monthly | Studio Apartments - Standard Scheme |
| Unit Pricing | Monthly | One Bedroom Apartments - Standard Scheme |
| Unit Pricing | Monthly | Two Bedroom Apartments - Standard Scheme |
| Unit Pricing | One time/ perpetual license | Accelerate Scheme - Fast Track Qualification |
| Freemium | Pay-as-you-go | Welcome Bonus |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
First Homes Africa product offering
Product offeringCore offering
FirstHomes Africa operates a mobile-first lease-to-own platform that enables Nigerian consumers to qualify for home ownership by making 12 months of monthly equity contributions, after which they enter 10-15 year lease-to-own contracts for studio, one-bedroom, and two-bedroom apartments at Lekki Pearl Estate and Green Park Estate in Lagos. The platform incorporates an Accelerate scheme for faster qualification using 10-20% down payments, holds customer funds in a Zenith Bank trust account, and bundles benefits including insurance coverage, financial literacy training, and a 3-year structural warranty.
Product overview
FirstHomes Africa is a Proptech company offering a mobile-first lease-to-own home ownership platform in Nigeria. The core offering consists of the FirstHomes Africa Mobile App, through which users access the Regular Scheme (12-month qualification) or the Accelerate Scheme (9-13 month qualification with down payment). Users save equity monthly, receive property allocation, and sign lease-to-own contracts lasting 10-15 years. The platform is complemented by a Property Gallery displaying available apartments, a Referral Program offering equity bonuses, VIP Status with partner discounts, and the FirstHomes Africa Community for member networking. All services are delivered via the mobile app and website with trust administration through Zenith Bank Plc.
Differentiator
Problem solved
Functional benefit
Products and services
- FirstHomes Africa Mobile App Flutter-built mobile application available on iOS and Android that enables users to register, browse properties, make monthly equity contributions, qualify for home allocation after 12 months, and manage their lease-to-own scheme for up to 15 years.
- Regular Scheme Standard lease-to-own home ownership program requiring 12 months of monthly equity contributions before property allocation, applicable to studio, one-bedroom, and two-bedroom apartments at Lekki Pearl Estate and Green Park Estate in Lagos.
- Accelerate Scheme Accelerated lease-to-own home ownership program allowing faster qualification (9-13 months) through down payments of 10-20% instead of pure monthly savings, enabling a faster path to property allocation. Includes VIP status with partner discounts.
- Property Gallery Online catalog of available apartments including Studio, One Bedroom, and Two Bedroom units at Lekki Pearl Estate (Sangotedo) and Green Park Estate (Abijo) in Lagos, with transparent pricing per unit.
- Lease-to-Own Contract Lease-to-own agreement spanning 10-15 years that customers sign after property allocation, with a three-year warranty on structural repairs and maintenance, and bundled insurance coverage through Zenith Insurance.
Companies that use First Homes Africa
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles3 records
First Homes Africa technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
First Homes Africa partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered minor and core.
- DangoteminorPart of the FirstHomes Africa ecosystem of trusted corporate partners, providing potential value chain integration within the broader African business network.
- Zenith InsurancecoreProvides tailor-made insurance policies for FirstHomes Africa members, covering monthly payments for 6 months in case of job loss or inability to work due to personal injury, and full property payment in case of loss of life.
- AIICO InsuranceminorPart of the partner ecosystem providing insurance products and services to FirstHomes Africa members.
- Swiss DoorsminorPart of the partner ecosystem providing quality construction materials or components for FirstHomes Africa properties.
- ABBminorPart of the partner ecosystem potentially providing technology or infrastructure solutions for smart/green homes.
- TowerminorPart of the FirstHomes Africa ecosystem of trusted corporate partners.
- SSQLcoreProvides security technology securing the FirstHomes Africa platform, ensuring secure transactions and data protection for users.
Scale indicators3 records
Recent moves6 records
Expansion highlights7 records
First Homes Africa competitors and assessment
Company assessmentBroad incumbents
- PropertyPro (formerly ToLet.com.ng): PropertyPro is one of Nigeria's largest real estate marketplaces, listing homes for sale and rent to individual buyers and tenants. It serves the same first-time-buyer audience that FirstHomes targets, but as a marketplace rather than a vertically integrated lease-to-own operator.
- Lamudi Africa: Lamudi is a pan-African online real estate marketplace with a strong Nigerian presence, covering listings, sales, and rentals. It overlaps with FirstHomes on the affordable-housing demand and digital discovery layer but does not offer lease-to-own financing.
Regional players
- Roofstock: Roofstock is a US online marketplace for single-family rental and sale investment properties. It is comparable as a digitally-enabled residential real estate platform, though it operates in the US and is focused on investors rather than first-time owner-occupiers.
Direct peers
- RentSmallSmall: RentSmallSmall is a Nigerian proptech that lets tenants pay short- and long-term rent in instalments through a digital platform. It targets the same first-time-buyer/tenant demographic with mobile-driven, structured-payment housing access as FirstHomes Africa.
- Divvy Homes: Divvy Homes is a US-based lease-to-own residential platform that lets aspiring buyers rent toward eventual homeownership while building equity. It is the closest international analogue to FirstHomes' lease-to-own, digitally-delivered housing model.
- Spleet: Spleet is a Lagos-based residential rental platform offering flexible, credit-backed rent payments to Nigerian tenants. It overlaps with FirstHomes Africa on the digital, mobile-first lease-to-rent/own thesis for young urban Nigerian professionals, though Spleet focuses more on the rental-financing leg than equity-built ownership.
Others
- Easyrent App: Easyrent is a Nigerian property management platform that helps landlords collect rent and manage tenants digitally. It is comparable to FirstHomes as a Nigerian proptech enabler serving the residential rental ecosystem, though it sits on the landlord rather than tenant/buyer side.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
First Homes Africa social profiles
Digital presenceFirst Homes Africa financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Homes Africa leadership team
Management profileNumber of profiles
First Homes Africa funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Homes Africa M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Homes Africa
What does First Homes Africa do?
FirstHomes Africa operates a mobile-first lease-to-own platform that enables Nigerian consumers to qualify for home ownership by making 12 months of monthly equity contributions, after which they enter 10-15 year lease-to-own contracts for studio, one-bedroom, and two-bedroom apartments at Lekki Pearl Estate and Green Park Estate in Lagos. The platform incorporates an Accelerate scheme for faster qualification using 10-20% down payments, holds customer funds in a Zenith Bank trust account, and bundles benefits including insurance coverage, financial literacy training, and a 3-year structural warranty.
Is First Homes Africa a public or private company?
First Homes Africa is a private company. It is classified as unknown and is currently operating.
When was First Homes Africa founded?
First Homes Africa was founded in 2019. It employs 11 to 50 people.
Where is First Homes Africa based?
First Homes Africa is headquartered in Lagos, Nigeria, in the Africa region.
How does First Homes Africa make money?
Three revenue lines are on record. Monthly Equity Contributions are the primary driver. The others are lease-to-Own Contract Payments and referral Program Fees.
Who are First Homes Africa's main competitors?
Broad incumbents on record are PropertyPro (formerly ToLet.com.ng) and Lamudi Africa. Roofstock is listed as a regional player. Direct peers are RentSmallSmall, Divvy Homes and Spleet. Easyrent App is listed as an others.
Does First Homes Africa have an API?
No public API is recorded for First Homes Africa.
What industry is First Homes Africa in?
First Homes Africa's product category is Affordable Housing Services. Its primary akta.pro industry code is BPAJAAAD, Affordable Housing & First-Time Buyer Brokerage.