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Dubai-based proptech start-up Prypco closed a USD 10 mn seed funding round led by Abu Dhabi-based VC Shorooq Partners, according to a statement (pdf). Apparel Group and other investors also participated in the round.
Where’s the money going? Prypco plans to use the funding to scale its operations and expand its offerings.
About Prypco: Founded in 2022 by Amira Sajwani (LinkedIn), the startup features four verticals:
- Prypco Blocks is a Dubai Financial Services Authority-regulated fractional ownership platform, allowing investments starting at AED 2k. It has fully funded nine properties since launch;
- Prypco Mortgage provides easy home loans, disbursing a record AED 500 mn in a single month in September 2024;
- Prypco Exclusives offers brokers access to over 250 secondary property listings across more than 70 projects;
- Prypco Golden Visa streamlines the process of securing long-term residency in the UAE.
What investors see: Prypco’s “innovative approach, particularly in fractional ownership, democratizes access to property investment, creating new [windows] for a diverse range of investors,” said Shorooq founding partner Mahmoud Adi.
