Just four months after its launch and a subsequent pre-seed round, Egyptian real estate startup Isqan.com has reportedly bagged a six-figure seed investment from Eng. Mohamed Gaballah, a real estate developer and CEO of Egygab Holding.
Simply put, Isqan aspires to become the go-to destination for buyers looking to purchase their next property in Egypt. The startup has already established partnerships with more than 50 real estate companies and the total number of property listings on the platform has now reached beyond 10,000. Isqan also claims that it has now thousands of active users and leads on its barely four-month-old platform.
Explaining his decision to invest in the startup, Eng. Gaballah commented, “As a seasoned real estate executive, I have seen firsthand the need for digitization within this sector. I am both excited and proud to support Isqan.com’s journey to growth and market dominance.”
Meanwhile, Omar Mohamed, Co-Founder and Tech Lead of Isqan.com reacted to the latest development by saying, “This investment will support Isqan.com in offering real value to its users by guiding them to make their next real estate purchase; simultaneously, ushering the Egyptian real estate market into the modern age of digital convenience.”
From the very start, Isqan has been focusing on positively disrupting the real estate market in Egypt by offering a completely free-of-charge service, while allowing end-users to list three properties for free. The company is now planning on raising additional capital through its next level of funding round, scheduled for Q1 2021. Assuming all goes as per plan, Isqan plans on utilizing the new capital to aggressively expand within Egypt and possibly beyond.