PRYPCO, a Dubai-based prop-tech startup platform that is simplifying the real estate journey, has successfully raised $10 million in a seed funding round led by Shorooq Partners, with strategic partnership from Apparel Group and other investors. The funding round was completed in September 2024.
The seed funding will help PRYPCO, founded in 2022, scale its operations and expand its offerings to all stakeholders in the real estate journey.
Read: DAMAC Properties expands into Ras Al Khaimah with ‘Shoreline’ luxury project
Amira Sajwani, founder and CEO of PRYPCO, said: “This funding marks a pivotal moment for PRYPCO 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. With this investment, we can further expand our ecosystem, offer new opportunities, and ensure that we enable Real Estate Freedom for all.”
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. Their innovative approach, particularly in fractional ownership, democratizes access to property investment, creating new opportunities for a diverse range of investors.”
Transforming the industry
PRYPCO offers multiple services that aim to streamline and digitize all real estate-related experiences, making the user journey seamless. It currently has four verticals: Blocks, Mortgage, Exclusives, and Golden Visa.
Read: DAMAC reveals new nature-centric community, DAMAC Sun City in Dubai
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 AED2,000. It has already fully funded nine properties since its official launch and plans to add more real estate investment opportunities in the coming months.
PRYPCO Mortgage makes homeownership easy and stress-free by providing straightforward home loans. In September 2024, PRYPCO also celebrated a significant milestone, announcing that PRYPCO Mortgage disbursed over AED500 million in a single month, setting a new record for the company.
PRYPCO Exclusives provides real estate brokers with access to exclusive secondary properties. The platform currently has over 250+ listings across 70+ projects. PRYPCO Golden Visa helps people secure long-term residency in the UAE and takes care of all the paperwork.
Key numbers at a glance
- 200+ units sold
- 300+ active agents and brokers
- Over AED500 million disbursed in August 2024
- Record-breaking single disbursal of AED48.5 million
- Over AED8.1 million invested
- Over 600+ Golden Visas granted
- Revenue of over AED8.2 million
- 209 investors
- Over 40 nationalities have so far invested in the property
- Average investment of AED6,220
For more real estate news, click here.
