Egypt’s Boyot raises $250k in a Pre-seed round

Egypt’s Boyot raises $250k in a Pre-seed round

Boyot, an Egyptian startup that offers an end-to-end operating system for payments and financial services focusing exclusively on the real estate market, raised $250,000 in a pre-Seed round led by Kuwaiti angel investors.

The startup told WAYA that they will use the fund to enhance the platform, hire more talents and develop their product operations. The startup is set to open an office in Kuwait later this year.

“Our expansion plan is to establish a new branch of Boyot Property Payment in Al Kuwait by the end of 2022, heading Turkey in the upcoming plan,” Mahmoud El Sabongy, Founder and CEO, told WAYA.

Boyot was founded in 2020 by Mahmoud El Sabongy, Khaled El Refaay and Mohamed Sayed, and offers an end-to-end SaaS solution for payments tailored to real estate businesses. 

The startup also enables real estate companies to digitize their entire payment systems and allows them to track the status of their customer payment from scheduling through settlement.

“We came up with the idea of Boyot Property Payment as the first tailored solution for the property payment management in Egypt with a strong platform and upcoming mobile application. The inspiration came from our passion about the real estate market and knowing the big shortage in the field regarding the hassle of property payments in the digital world,” El Sabongy added.

Read more: Jobop, Morocco’s digital staffing platform, raises $1m in a seed round

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