Egyptian prop-tech startup Isqan has raised a six-figure US dollar pre-seed funding round as it launches its new platform designed to revolutionise the country’s real estate sector.
Founded last month by Ali Ezzat and Karim Hazem, Isqan is a listings platform for users looking to rent or buy properties in Egypt.
The startup, which only went live with its offering in August, says it combines a user-friendly interface with a free services offering. Isqan has partnered a number of Egyptian real estate companies to offer users a wide range of trusted options.
Isqan raised the six-figure pre-seed round from an undisclosed angel investor who its co-founders said “shared the same dream” as them in wishing to reshape the real estate market.
“We set out to disrupt what real estate search should look like in Egypt,” said Ezzat. “We have created a new way to discover your next property purchase through an extremely simple and easy interface. The real estate market has been developing immensely over the past couple of years and there is a huge shift in the market to utilise more digital methods of attracting new customers.”