General Catalyst Leads Pre-Series A for UAE-Based PropTech PRYPCO
The UAE-based proptech platform PRYPCO, founded in 2022 by Amira Sajwani, has successfully secured a pre-Series A funding round led by the prominent venture capital firm, General Catalyst. While the exact financial value of the investment remains undisclosed, this represents a significant step for PRYPCO, which is already making waves in the regional real estate market. The investment underscores General Catalyst’s first foray into PropTech within the Middle East.
PRYPCO’s Growth and Future Plans
PRYPCO’s platform has already demonstrated considerable traction since its inception, achieving impressive milestones. The company reports having facilitated nearly AED 10 billion in mortgages, supported over 3,000 Golden Visas, and amassed a user base exceeding 50,000 through its offerings: PRYPCO Blocks (fractional ownership) and PRYPCO Mint (tokenised investments). With this new capital injection, PRYPCO intends to further expand its service offerings, deepen its collaborations with regulatory bodies, and accelerate its growth trajectory throughout the Middle East and North Africa (MENA) region. This investment, reflecting a global trend, could potentially inspire similar innovation and investment in the nascent PropTech markets in Africa.
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