The Egyptian PropTech company 'Aqar Exit' announced that it has secured a funding round of $200,000 (equivalent to 10 million Egyptian pounds) provided by businessman Ayman Mamdouh Abbas, Executive Chairman of 'Intro Holding Group', in exchange for a 10% stake in the company.
This investment places the company's valuation at approximately $2 million (equivalent to 100 million Egyptian pounds), according to the company's founder and chairman, Mahmoud Ammar, following the platform's participation in the fifth season of 'Shark Tank Egypt'.
PropTech Platform Mechanism
The company was founded in July 2026 and offers a digital platform aimed at facilitating the transfer of real estate purchase contracts for individuals facing difficulties in paying installments due on their units. The concept is based on connecting these sellers with new buyers who wish to acquire the units at the original contract prices without paying additional premiums known in the Egyptian real estate market as 'overprice'.
The platform allows sellers to recover previously paid amounts without incurring additional fees for contract transfers. Since its launch, the platform has recorded operational figures including transactions worth billions of pounds, along with thousands of purchase requests and contract transfer files, noting that the platform's definition of closed deals includes listings that have been removed from the platform and not necessarily completed sales.
What Changes Practically?
The company will utilize the new capital from this round to develop an additional suite of products and support regional expansion plans into new markets outside Egypt, specifically in the Arabian Gulf region.
- Supporting regional expansion: The company is targeting new destinations in Gulf countries to leverage its business model.
- Upcoming funding round: 'Aqar Exit' plans to raise a larger funding of $5 million during 2027 with the participation of local and international investors.
- Product development: The company intends to build a broader digital infrastructure to facilitate the trading of real estate contracts for which installments have not yet been fully paid.