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PRYPCO Raises USD 10M in Seed Funding to Expand Real Estate Offerings

PRYPCO Raises USD 10M in Seed Funding to Expand Real Estate Offerings

– PRYPCO raised $10 million in seed funding led by Shorooq Partners, with participation from Apparel Group and other investors, to scale operations and expand its real estate offerings. 

– The company’s fractional ownership platform, PRYPCO Blocks, allows investors to invest in Dubai properties with just AED 2,000 and has funded nine properties since its launch. 

– PRYPCO set a new record in September 2024 by disbursing over AED 500 million in mortgages in a single month.

Dubai-based prop-tech startup PRYPCO has raised $10 million in a seed funding round led by Shorooq Partners, with strategic participation from Apparel Group and other investors.

The funds will support PRYPCO in scaling its operations and expanding its offerings to all stakeholders in the real estate sector. The funding round was completed in September 2024, according to Middle East Economy website.

PRYPCO offers various services aimed at streamlining and digitizing the entire real estate experience to make the process more user-friendly.

Amira Sajwani, founder and CEO of PRYPCO, commented to the same website : “This funding marks a pivotal moment for PRYPCO as we continue simplifying the real estate journey. Real estate is the largest asset class globally, yet for many, the barrier to entry is still too high or complex, especially for the new generation.

“Our mission is to build the region’s leading real estate ecosystem that benefits everyone. With this investment, we can further expand our ecosystem, offer new opportunities, and ensure that we enable Real Estate Freedom for all,” she added.

Mahmoud Adi, founding partner at Shorooq Partners, stated: “We are always looking to back visionary companies that harness technology to disrupt traditional sectors, and PRYPCO is doing just that in the real estate market.

“Their innovative approach, particularly in fractional ownership, democratizes access to property investment, creating new opportunities for a diverse range of investors,” Adi noted.

PRYPCO Blocks, a fractional ownership platform regulated by the Dubai Financial Services Authority (DFSA), allows investors to digitally invest in prime Dubai rental properties with just AED 2,000. Since its launch, it has fully funded nine properties and plans to expand its offerings in the coming months.

In September 2024, PRYPCO also set a new company record by disbursing over AED 500 million in mortgages in a single month.

1 USD equal 3,67 AED

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