A $1.5 million pre-seed investment round has been concluded by Egypt’s Partment, a prop-tech business that provides co-owned second homes. The funds will be used to build up the platform’s infrastructure and launch the MVP.
Partment, a company founded in 2022, provides a hassle-free option for second-home co-ownership. The firm offers end-to-end property management services, allowing customers to co-own second homes for a fraction of the cost, and a sophisticated booking system that maximizes property utilization.
Nclude, a top venture capital platform focused on funding FinTech and FinTech-enabled firms in Egypt, the Middle East, and Africa, and Plus Venture Capital (+VC), a MENA-focused venture capital company specializing in pre-seed and seed digital startups, led the startup’s US $1.5 million pre-seed round.
Leading IT leaders and real estate sector experts were among the broad group of angel investors that participated in the round.
“Partment is a new concept in Egypt, and we believe it will change how people buy and use real estate in the local and international market,” said Nadim Nagui, chief executive officer at Partment.
“We are very proud to be backed by leading investors who understand and support our vision. Aside from the financial support and expert advice, their trust in our business model will help us achieve our short-term and long-term goals and scale our business to the next level in Egypt and across the region.”
Eslam Darwish, the founding general partner of Nclude, expressed his happiness at having led Partment’s most recent fundraising round. His company is committed to advancing fintech innovation and promoting financial inclusion by supporting startups with a global mentality.
“We are also privileged to back the team on their exciting journey to disrupt the real estate sector with a locally relevant and globally scalable solution delivered through a unique customer experience,” he said.
