Dubai proptech startup PRYPCO has successfully 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 2024, is set to fuel PRYPCO’s vision to simplify real estate transactions.
The seed funding will help PRYPCO scale its operations and expand its offerings to all stakeholders in the real estate journey, including Golden Visa applications, fractional ownership and mortgage financing.
PRYPCO looks to simplify Dubai real estate transactions
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’.”
Shorooq Partners also expressed excitement about the impact of PRYPCO on the real estate sector. 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.
“The innovative approach, particularly in fractional ownership, democratizes access to property investment, creating new opportunities for a diverse range of investors. We believe PRYPCO is set to redefine how people interact with real estate, and we’re excited to be part of their journey toward enabling ‘real estate freedom for all’.”
PRYPCO offers multiple services that aim to streamline and digitise all real estate-related experiences, making the user journey seamless. It currently has four verticals:
- PRYPCO Blocks: 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 ($545). It has already fully funded nine properties since its official launch and plans to add more Dubai 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 more than AED500m ($136m) in a single month, setting a new record for the company. This achievement underscores the growing demand for innovative real estate financing solutions, and the company remains committed to offering attractive mortgage options, with partnerships across all major banks in the UAE
- PRYPCO Exclusives: Provides real estate brokers with access to exclusive secondary properties. The platform currently has more than 250 listings across more than 70 projects
- PRYPCO Golden Visa: Helps people secure long-term residency in the UAE and takes care of all the paperwork
Follow us on
