Egyptian real estate listings platform Isqan has raised a six-figure US dollar seed funding round to help it build on its strong early momentum.
Founded in August 2020 by Ali Ezzat and Karim Kazem, Isqan is a listings platform for users looking to rent or buy properties in Egypt.
The startup combines a user-friendly interface with a free services offering, and has onboarded over 50 Egyptian real estate companies, with over 10,000 property listings and thousands of users.
Having raised a six-figure US dollar pre-seed round in September, Isqan has now raised its seed round from real estate developer Mohamed Gaballah, the chief executive officer (CEO) of Egygab Holding.
The funds will be used to ramp up operations by hiring new talent to the team, as well as investing in marketing and continued product development.
“We are thrilled to be working with Eng. Mohamed Gaballah. His investment in Isqan is a testament to his belief in our team, product and growth strategy,” said Kazem.
Isqan aims to aggressively increase its market presence in Egypt, and has plans to raise another financing round towards the end of 2021.