Milango, a community management software business funded by A15, has purchased 500 Startups-supported local tenant management rival Circle. Milango will benefit from the acquisition by gaining market share and solidifying its position as the region’s premier community management solution.
“Circle success wouldn’t have been made possible without Nancy Kamal, my co-founder and her determined and ambitious mindset; the hard work of our team, and the support of our investors at 500 Startups. I strongly believe that the synergies this deal creates will shape a stronger proposition, that will serve millions of households across the region,” Essam Maged, Circle’s CEO, said.
Why The Acquisition
Milango’s contracted customer base has grown to over 100,000 residential units as a result of the acquisition, and the business plans to use it to accelerate its expansion in the community management area.
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“I’m very proud of the work Milango’s team has done over the past 18 months. We have managed to exceed our initial usage expectations and established an engaged user base that are nearing EGP 100 Million in financial transactions with strong projected growth on that front for 2022. We are confident that with the acquisition of Circle and the addition of their premium clients to our portfolio, we are on the right track to bring #ASmarterLife to all communities,” Amr Mostafa, Milango’s CEO, said.
A Look At Circle
Nancy Kamal and Essam Maged launched Circle in the year 2020. Real estate and property management firms can use the platform to improve contact with tenants, respond to their needs, and cut costs. Through the MISK500 accelerator program, Circle received funding from 500 Startups MENA in May 2020. Furthermore, at the 4th Annual AfricArena Summit in Cape Town, South Africa in March 2021, Circle was named “The Best Disruptive Startup” representing Egypt.
Circle tenant management Circle tenant management
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