Egypt’s PropTech startup Partment raises $1.5m in a pre-seed round

Egypt’s PropTech startup Partment raises $1.5m in a pre-seed round

Partment, a PropTech startup that offers co-owned second homes, raised $1.5 million in a pre-seed round. The round was led by Nclude, a VC platform focused on investing in FinTech startups in Egypt and MENA, and Plus Venture Capital (+VC), a MENA-focused venture capital firm investing in pre-seed and seed tech startups.

“In 2021, we came together as a group of ex-colleagues and wanted to co-invest in a property, preferably a vacation property. While we saw the benefits of splitting the capital required and sharing the running costs, we quickly realized the operational complexities that will come with the legal structure, the usage governance, the maintenance, and eventually the exit. This inspired us to build Partment to facilitate co-ownership through an airtight and easy-to-use legal framework powered through a top-notch technology platform,” Nadim Nagui, Chief Executive Officer at Partment, told WAYA about the inspiration to start Partment.

Nagui also told us that they will be using the raised capital to enhance the startup’s infrastructure and deploy its MVP.

Partment was founded in 2022 by Nadim Nagui and Ahmed Raggal to offer a hassle-free solution for second home co-ownership. Through the digital platform and smart booking system, Partment enables users to co-own second homes at a fraction of the price, while providing an end-to-end property management service, optimizing property utilization. 

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