Sakneen, an Egyptian real estate platform that helps homebuyers search for properties online, has raised $1.1 million in seed funding. The funding round was led by Algebra Projects with Sarwa Capital, Foundation Ventures, Hem+Spire, Nakhla , Google, BlackRock, McKinsey and other angel investors.
Ramy Khorshed and Hussein El Kheshen, created Sakneen in 2019 with a vision to address some of the challenges faced by buyers when buying a properties online, Sakneen was created by to make buying properties online a simple and enjoyable experience.
Sakneen’s CEO & Co-Founder, Ramy Khorshed, said, “With Sarwa Capital’s latest strategic investment, the publicly listed funding group behind Contact Cars & Contact Financing, we have firm support from industry leaders and are well-positioned to launch products across various verticals and delight our customers with new and unique experiences.”
CTO and co-founder of Sakneen Hussein El Kheshen said, “Our incredible tech team is actively working on several new features that will be released over the next few weeks, in addition to a few entirely new products that we are excited to release shortly thereafter.”
“Sakneen brings unique efficiencies to the real estate market, which has not seen enough disruption despite heavy VC funding,” said Omar Khashaba, Principal at Algebra Ventures.
