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Dubai-based proptech startup platform PRYPCO has raised $10m in a seed funding round led by Shorooq Partners, with strategic partnership from Apparel Group and other investors.
The funding round, completed in September will power PRYPCO’s growth, including scaling its operations and expanding its offerings.
Amira Sajwani, founder and CEO of PRYPCO, remarked: “This funding marks a pivotal moment for us as we continue simplifying the real estate journey. Real estate is the largest asset class globally, yet for many, the barrier to entry is still too high or complex, especially for the new generation.
“Our mission is to build the region’s leading real estate ecosystem that benefits everyone.”
Mahmoud Adi, founding partner at Shorooq Partners said: “We are always looking to back visionary companies that harness technology to disrupt traditional sectors, and PRYPCO is doing just that in the real estate market.
“Its innovative approach, particularly in fractional ownership, democratises access to property investment, creating new opportunities for a diverse range of investors.”
What PRYPCO offers
The platform provides multiple services to streamline and digitise all real estate-related services via its following verticals:
- PRYPCO Blocks is a real estate fractional ownership platform regulated by the Dubai Financial Services Authority (DFSA), ensuring a secure and transparent investment process.
- PRYPCO Blocks enables investors to digitally invest in Dubai’s best rental properties with just Dhs2,000. It has fully funded nine properties so far and plans to add more real estate investment opportunities in the coming months.
- PRYPCO Mortgage, which offers home loans, disbursed over Dhs500m in a single month, setting a new milestone for the platform.
- PRYPCO Exclusives provides real estate brokers with access to exclusive secondary properties. The platform currently has over 250 listings across more than 70 projects.
- PRYPCO Golden Visa enables people to secure long-term residency in the UAE, taking care of all the documentation.