Y Combinator invests in Egyptian online real estate platform
Posted on: 18 June, 2020 at 8:33 AM
Egyptian online real estate platform Sakneen has received investment from Y Combinator (YC), the Silicon Valley based incubator behind early-stage investments in household names such as Airbnb, Dropbox, Reddit and Stripe.
Sakneen was founded by Ramy Khorshed and Hussein El Kheshen. According to the founders, the company’s mission is to help homebuyers digitally search for and buy homes in Egypt. “We’re looking to reinvent the real estate process. Standing in the way of a better real estate experience is disorganised public information, mismatched incentives in the sales process, and a lack of transparency around financials. Sakneen is building the technology that will help tackle all three with the vision of turning the struggle of finding a home into a joy for millions of homebuyers.”
Aaron Epstein, a partner at Y Combinator says, “At YC, we help talented founders from anywhere in the world to access the advice, networks and funding that Silicon Valley has to offer. With Sakneen, we see dedicated founders, tackling a huge problem in a region of the world that has tonnes of opportunity for tech investment. It was an obvious decision to fund them and pleasure for us to support them.”
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