Dubai proptech firm Prypco has raised $10m in seed funding. The round was led by Shorooq Partners, with participation from Apparel Group and several other undisclosed investors.
The investment will be used to scale Prypco’s operations and accelerate its expansion in Dubai and the rest of the UAE.
“They’ve [Prypco] remained focused, with their heads down, building and growing. Even while being bootstrapped, they’ve proven to be an incredibly credible and reliable business.”
Mahmoud Adi, Founding Partner, Shorooq Partners
Launched in 2021, Prypco Blocks is a fractional real estate ownership platform that allows investors to digitally invest in rental properties for a minimum of AED 2,000.
To date, it has fully funded nine properties and the platform expects to add more investment opportunities in the next few months.
“This milestone is a testament to the dedication and hard work of every team member who has contributed to our vision to enable Real Estate Freedom for all. We thank each and every one of you for being a part of this remarkable journey.
PRYPCO statement
“With this investment, we’re now set to scale our operations and broaden our offerings, ensuring we deliver even more value to all stakeholders in the real estate ecosystem.
“The journey to securing this funding has reinforced our belief in the power of collaboration and innovation as we strive to enhance our services and drive growth. These insights will guide us as we move forward in our mission to build the region’s leading real estate ecosystem.”
The platform provides multiple services to streamline and digitise all real estate-related services via its following verticals:
- PRYPCO Blocks is a real estate fractional ownership platform regulated by the Dubai Financial Services Authority (DFSA), ensuring a secure and transparent investment process.
- PRYPCO Blocks enables investors to digitally invest in Dubai’s best rental properties with just Dhs 2,000. It has fully funded nine properties so far and plans to add more real estate investment opportunities in the coming months.
- PRYPCO Mortgage, which offers home loans, disbursed over Dhs 500m in a single month, setting a new milestone for the platform.
- PRYPCO Exclusives provides real estate brokers with access to exclusive secondary properties. The platform currently has over 250 listings across more than 70 projects.
- PRYPCO Golden Visa enables people to secure long-term residency in the UAE, taking care of all the documentation.
“We started the company bootstrapped, and we’re very proud of that. Of course, the investment is a great bonus, but we’re particularly happy with the team and have built a phenomenal relationship.”
Amira Sajwani, Founder and CEO, Prypco
