Real Estate: Get to know the 5 startups leading the industry

MAGNiTT's 2019 Real Estate Venture Investment Report discovered that the industry saw sizable investment activity over the last 5 years, with a total of 16 investment deals from 2015 to 2019, and 19 deals in 2020. Excluding investments that took place this year, 2018 saw the highest total funding raised by MENA-based Real Estate startups of $123M.  

The industry in the region has been seeing inevitable shifts in traditional ways of conducting business due to innovative technology and accelerated digital transformation. These changes go beyond standard property listings and will affect how properties are advertised, sold, rented, and managed overall - from customers viewing properties through AI and in the comfort of their own homes, to investors and landlords using cloud services to streamline rent collection and management tools, as well as tenants using apps to access payment methods and building information. Technology is causing a major and much-needed disruption to the industry. 

Shaheen Al Khudhari, Founder & CEO of Ajar commented, “During the COVID-19 lockdown, it quickly became very clear to landlords that going digital was the way forward. Rent collection for those who depended on cash and cheque payments completely stopped, affecting the majority in the market. Landlords saw this as an opportunity to not only go digital, but to also gain insights on how the industry was minimizing losses, what tactics worked, and what didn’t."

Get to know 5 startups in the region who are leading the Real Estate industry's transformation.

Discover more than 370 Real Estate startups on MAGNiTT

Meet the 5 highest funded Real Estate startups in the MENA and emerging markets ecosystem:

1. Property Finder

Property Finder connects users with the best and most reputable real estate agents in Dubai & across the UAE and provides vital information about properties, offering area guides and the latest data on the market. Whether customers are looking to buy or rent, Property Finders' tools can help find the perfect home, whether it be an apartment, a villa, or a studio.

Since its inception, they have raised a total of $142M across 3 funding rounds.

2. Zameen

Zameen is the first property portal in Pakistan and was founded in 2006. It connects buyers and sellers online in a highly convenient way, making it a household name among Pakistani's around the world. The portal has over 550,000 new listings each month, and over 5.5 million monthly users, with more than 15,000 agencies registered. Zameen's parent company is EMPG, which has raised a total of $250M.

Zameen has raised $32.9M in total funding.

3. Bayut

Bayut is a UAE-based property website that hosts real estate listings for residential and commercial properties across the UAE's seven emirates with an extensive inventory from more than 1,200 agencies. Bayut's parent company is EMPG, which has raised a total of $250M.

Across 2 investment rounds, Bayut has raised $29M in funding.

4. Evtiko

Evtiko is a Turkey-based technology startup aimed at bringing an innovative perspective to the technology infrastructure using the real estate sector (Proptech) interference. Tiko is pioneering a major change in the industry by bidding to those who want to sell their house without having to visit it, thanks to the algorithms supported by the artificial intelligence technology in its infrastructure.

Evtiko has secured $18.3M across several funding rounds.

5. Apsiyon

Apsiyon is a software as a service (SaaS) company in Turkey, providing finance & accounting, property management, community management, and payment services in a software package to professional residential and commercial property management companies.

The startup has raised a total of $12.5M in funding.

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