Partment, a property technology company based in Egypt, has just completed a US$1.5 million pre-seed funding round.
Plus Venture Capital (+VC), a MENA-focused venture capital firm, and Nclude, a prominent venture capital platform investing in fintech and fintech-enabled firms in Egypt, the Middle East, and Africa, led the pre-seed funding round.
A wide group of angel investors, including top tech leaders and real estate sector professionals, participated in the round as well.
Partment, which was established in 2022, is an easy option for joint ownership of properties.
According to Nadim Nagui, chief executive officer of Partment, “Partment is a new concept in Egypt and we believe it will alter how individuals acquire and use real estate in the local and worldwide market.”
“We are honored to have the support of renowned investors who comprehend and share our goal. In addition to providing us with financial assistance and professional guidance, their confidence in our business model will enable us to accomplish our short- and long-term objectives and take our company to the next level in Egypt and the rest of the region, Nagui continued.
Partment offers end-to-end property management services, allowing customers to co-own second homes for a fraction of the cost, while also maximizing property utilization using a digital platform and smart booking system.
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