Isqan.com, an Egyptian real estate listings platform has raised a six-figure USD seed funding round from Real Estate Developer Eng. Mohamed Gaballah CEO of EGYGAB Holding, to scale their recent momentum.
Ali Ezzat, Co-Founder of Isqan.com spoke to WAYA about the investment sat “His investment in isqan.com is an indication of how our platform will play a pivotal role in the digital transformation of the real estate sector as well as the willingness of top players in the sector to venture and invest in startups on the forefront of this transformation.”
The funds will be used to ramp up operations by hiring new talent to the team, as well as investing in marketing and continuing to grow their product. Ezzat commented saying “we aim to digitize the entire real estate industry in Egypt by providing users with the easiest, fastest, and most powerful real estate search experience possible.”
The founders started the ideation phase of the company in February 2020 and it has since been able to raise two funding rounds. Karim Kazem, Co-Founder and CEO, tells WAYA, “We initially raised our first round from an angel investor around 8 months ago, the announcement came a couple of months later. Since we launched we have seen tremendous growth and sought out additional funding to capitalize on the opportunity”. Since the companies official launch in September 2020 it has onboarded over 50 companies. Additonally, its property listings reached over ten thousand and the platform has attracted thousands of users.
Isqan.com is spearheaded by its two technical Co-Founders, CTO Omar Doma and Tech Lead Omar Mohamed. Doma says, “isqan.com is a very unique product to the real estate market, not only that it provides a much-improved user experience and incredibly powerful features, but it is also powered by a very advanced & modern tech stack which enables us to provide these unprecedented offerings to the market.”
Omar Mohamed added “isqan.com helps people take one of their most important decisions. This investment will support isqan.com in providing a valuable service and offering real value to its users by guiding them to make their next real estate purchase, helping usher the Egyptian real estate market into the modern age.”
Isqan.com aim’s to aggressively increase its market presence in Egypt, having its sights set on another financing round towards the final quarter of 2021 to meet its expansion goals.
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