Isqan.com, a property-listing website based in Egypt, has raised a six-figure seed funding round from Mohamed Gaballah, CEO of EGYGAB HOLDING.
Created four months ago, more than 50 businesses have entered isqan.com, with property listings reaching over ten thousand. With the funds, the startup will recruit more talent, invest in its marketing platforms and improve its product.
“We are thrilled to be working with engineer Mohamed Gaballah. His investment in isqan.com is a testament to his belief in our team, product and growth strategy,” said Karim Kazem, co-founder of isqan.com
“We aim to digitise the entire real estate industry in Egypt by providing users with the easiest, fastest and most powerful real estate search experience possible,” said Ali Ezzat, co-founder at isqan.com.
According to Omar Mohamed, tech lead at Isqan.com the investment will also 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.
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The startup also aims to close a further funding round in the final quarter of 2021 in order to boost its development plans.
Why The Investor Invested
Apparently Mohamed Gaballah’s faith in isqan was strengthened by the fact that Isqan.com’s team is a very strong one, with both co-founders of the startup having previous experience in the real estate industry.
As a real estate brokerage owner based in Dubai, Karim Kazem, CEO and Co-Founder of Isqan.com was able to realize the unquestionable importance of how real estate portals contribute to the digital economy. It was not long until he started working towards launching a real estate listing portal in Egypt.
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“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 and modern tech stack which enables us to provide these unprecedented offerings to the market,” said Omar Doma, the chief technical officer (CTO).
EgyGab Holding is an investment management company headquartered in Egypt.
In September 2020, iqan.com raised a six-figure seed round from an undisclosed angel.
A Look At What The Startup Does
Isqan.com is offering in the Egyptian property market, a completely free of charge service, giving end-users three free listings, to help them rent or sell a property. Isqan.com has partnered with a number of market leaders to offer users a wide range of trusted and legitimized options. Companies listed on the platform include Egypt Best Properties, New Avenue, Byotat, Insider, B2B, Ultimate Real Estate, Remax, Irtkaz, Era, Daddy Estate Investment, Abrag, Proper Move, among several others.
“We created Isqan.com to simplify the home buying, selling, and renting process. Isqan.com is an easy way for today’s clientele to search for commercial and residential properties. We aim to tap in to local and international property markets, ultimately revolutionizing the Middle Eastern digital real estate landscape.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer