Myrent.ng Sells Controlling Share to Fifth Intel Capital

A significant move has been within Nigeria’s real estate tech industry! Myrent.ng known as a leading online property rental platform has announced the sale of its controlling share.

Myrent.ng is a subsidiary of Multivest Capital. It has been listed as one of the leading companies that transformed property rentals in Nigeria.

The platform was co-founded and majorly owned by Mr. Joshua Seun Makinde and he held over 50% of the company’s shares.

Myrent.ng became a fast growing platform under Mr. Joshua’s leadership, harnessing technology to streamline the rental process for both property owners and tenants.

The transaction was completed with Fifth Intel Capital. Fifth Intel Capital is a prominent investment firm and this move marked a new chapter for Myrent.ng under its new ownership.

Fifth Intel Capital is well known for its strategic investments in technology and real estate. The firm owns Renti.ng which is also a major player in the online property rental market.

Acquiring Myrent.ng created synergies between the two platforms and has lead to a more integrated and comprehensive service offering for customers.

Fifth Intel Capital is represented by Mr. Jude Oseh Mckelvin, a prominent businessman in Lagos, Nigeria. Mr. Mckelvin has extensive experience and knowledge in business and investments.

He is well positioned to guide Myrent.ng through its next phase of growth. Employing advanced technologies to enhance user experience and expanding the platform’s reach across Nigeria is his Vision for the future.

With the acquisition by Fifth Intel Capital, their resources and expertise is expected to significantly enhance the platform, improve user interface, expanded property listings and provide innovative rental solutions.

The collaboration between Myrent.ng and Renti.ng has indeed led to a more robust and competitive market presence.

Mr. Joshua Seun Makinde expressed confidence in the new ownership stating that selling Myrent.ng to Fifth Intel Capital was a strategic decision aimed at unlocking new potentials for the platform.

He said “I believe Mr. Jude Oseh Mckelvin and his team will continue to build on the foundation we have laid and take Myrent.ng to greater heights.”

Fifth Intel Capital’s purchase of Myrent.ng’s main stake shakes up Nigeria’s real estate tech industry. The industry watches to see how this deal will transform property rentals in the country.

Myrent.ng and Renti.ng’s combined forces set the stage for fresh ideas. These changes could bring big perks to landlords and tenants alike.

The market’s buzzing with excitement! who knows what cool new stuff we’ll see next?