Providing co-owned second homes, Partment announced on Wednesday that it has concluded its pre-seed round at $1.5 million. The money will be used to improve the platform’s infrastructure and implement its MVP in Egypt.
The round was spearheaded by Plus Venture Capital (+VC), a MENA-focused venture capital firm investing in pre-seed and seed digital start-ups, and Nclude, a leading venture capital platform focused on investing in fintech and fintech-enabled start-ups in Egypt, the Middle East, and Africa.
A wide group of angel investors, including top tech leaders and real estate sector professionals, participated in the round as well.
A hassle-free option for second home co-ownership is provided by apartments. Partment provides end-to-end property management services, maximizing property utilisation, while enabling users to co-own second homes at a fraction of the cost using the digital platform and smart booking system.
Users can register, book a call with an expert to learn more about the properties that are available, and receive complete support to buy a share in the unit of their choice.
The CEO of Partment, Nadim Nagui, commented on the news, saying: “Partment is a novel concept in Egypt, and we believe it will alter how people buy and use real estate on both the domestic and global markets.
We are incredibly grateful that reputable investors believe in and support our mission. Their confidence in our business strategy, in addition to the financial assistance and professional counsel, will help us accomplish our short- and long-term objectives and scale our operations in Egypt and the rest of the region.
Nclude Venture Capital’s founding general partner, Eslam Darwish, added: “We are driven to accelerating fintech innovation and achieving financial inclusion by financing global-mindset founders and are thrilled to have led Partment’s latest funding round.”
We have the honor of supporting the team as they embark on their thrilling mission to push the real estate industry with a locally relevant, internationally scalable solution that is provided through a distinctive customer experience.
Hasan Haider, the managing partner at +VC, also offered his thoughts on the news, saying: “We are always focused on investing in outstanding and skilled founders and are thrilled to support the Partment team. We think that their ground-breaking new idea of second home co-ownership would increase demand, draw plenty of homebuyers, and upend the real estate market in Egypt and beyond. The company has a bright future ahead of it.
Last Updated on October 25, 2022 by Safiya K
