Egyptian Startup Raises Funding from Y Combinator

June 15, 2020
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Egyptian real estate startup, Sakneen, has announced that it has raised $150,000 from Y Combinator as part of joining Y Combinator’s Winter 2020 with a virtual demo. 

Sakneen is young, having been founded in 2019 by El Kheshen and Ramy Khorshed.

The two Co-Founders said in a blog post:

“We’re looking to reinvent the real estate process. Standing in the way of a better real estate experience is disorganized public information, mismatched incentives in the sales process, and a lack of transparency around financials. Sakneen is building the technology that will help tackle all three with the vision of turning the struggle of finding a home into joy for millions of homebuyers.”

Sakneen is still under development, even with its recent success via Y Combinator’s influence, but is expected to launch fully later this year. Its business model focuses on the developers and agents. Users can utilize its next-gen technology platform for a monthly fee for now, but the co-founders say they are actively looking into monetizing transactions in the future.

When it comes to those looking to buy a home, Sakneen offers an inventory search engine for primary and secondary properties listed through the site without the need for paid ads or listings. 

Markets across the globe are recovering from the COVID crisis at alarming rates. This startup is no different, beating the odds by launching right at the beginning of the viruses global spread.

June 15, 2020
Victoria has been writing about property portals and marketplace sites for Online Marketplaces for over 3 years. She is also our resident artist and is responsible for all of the infographic content on the site.

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