The Egypt-based Design Tech startup and pioneering digital design & build platform Shatablee has secured $1.2M to disrupt the traditional interior design and finish process in the region.
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Egypt-based Shatablee, a startup that brings to the market a pioneering digital interior design & build platform tackling the diverse finishing problems in the Egyptian Market, has successfully raised $1.2 M in its latest funding round.
Founded in 2021, Shatablee aims to digitally transform the traditional home finishing process through unprecedented solutions enabling all Home Owners in Gated Communities to design and build their interiors seamlessly. The consolidated platform provides a shift towards off-the-shelf design to tailor packages with flexibility to customize and build unique designs with a real-time budget calculator, amongst other financial solutions. In doing so, Shatablee has set forth to disrupt the traditional interior design and finishing journey.
While the MENA 2022 Venture Investment Report recorded an unprecedented influx of capital across the region, the Real Estate sector in MENA also observed steady funding in 2021 despite recording no Mega Rounds like that of EMPG the year before. Aggregating more than $25M in capital investment over the last year, Real Estate startups including UAE-based PropTech Hotdesk, and Egypt-based property marketplace Sakneen have attracted investor interest and revitalized the pipeline with innovative disruptions to traditional sectors. In 2022, 3 deals have been recorded by digital property marketplaces and real estate facilitators Deal App, Nawy, and Aqarito to bring more than $8M into the sector so far.
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Through Shatablee, users start by selecting their unit type within their home compound to browse through a gallery of multiple design packages from premium, exclusive, to luxury. Users can then customize the designs for each space within their unit to their own preference, choosing from a variety of financing plans. Once the submitted order is confirmed, Shatablee starts the build phase, to complete the entire process within 90 days. Shatablee also enables digital payments, partnering with leading financial institutions, facilitating our customer's financing solutions. “The sheer size and fragmentation of the market play to our advantage. We believe that Shatablee is best suited to address the asymmetries faced by customers as well as professionals in the market, be it the lack of financing, the prolonged time to deliver that may take up to 12 months, the limited price transparency, or the inadequate quality of houses created across many segments, especially within gated communities” highlighted Moustafa Amer, founder and CEO of Shatablee.
In 2020, the real estate industry approximately contributed $62 billion to the Egyptian National GDP, according to the latest published figures, whereby the design & build industry accounts for approximately 30% of that number. According to the founder, the newly acquired funds will be deployed to empower the company's ambitious strategy and the implementation of its expansion plans across its home market. Amer concluded, "We at Shatablee leverage a wide base of suppliers that helps us source the best materials. Moreover, Shatablee boasts a top-notch team of designers, architects, and technicians, driven by the latest resource planning technologies, who work to demonstrably deliver the best quality and customer experience with reduced costs and time."
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