UAE-Based PRYPCO Lands First Middle East Proptech Backing From General Catalyst

Dubai-based proptech platform PRYPCO has closed a pre-Series A round led by General Catalyst, marking the Massachusetts-based venture capital firm’s first investment in the Middle East’s real estate technology sector.  

Founded by Amira Sajwani in the UAE in 2022, PRYPCO has quickly emerged as one of the region’s most dynamic proptech players, facilitating nearly AED10 billion (US$2.72 billion) in mortgages, supporting more than 3,000 golden visas, and onboarding over 50,000 users in just over two years. 

In an interview with Inc. Arabia, Sajwani said that General Catalyst’s recent investment is a validation of PRYPCO’s vision as well as of Dubai’s growing role as a proptech hub. “It reinforces that we are on the right path and strengthens confidence in the role we’re playing in shaping the future of real estate,” she said, adding that the partnership will also open doors for global growth. "Their backing will enable us to expand our offerings and continue scaling our ecosystem across global markets, from mortgages and fractional ownership, to tokenized real estate, golden visa services, and our agents’ platform. What excites us most is the momentum this round gives us to accelerate our mission of transforming real estate in the region, and to build solutions that can scale worldwide.” 

This is the second round that PRYPCO has raised in under a year. In October 2024, the startup raised a $10 million seed round, which was led by Shorooq.

According to Sajwani, PRYPCO’s rise has hinged on more than just innovation. Building traction among customers meant tackling deep-seated doubts about tokenized assets and fractional property ownership. “Our biggest challenge was building trust in completely new models like tokenization and fractional ownership," she said. "To overcome that, we focused on transparency, compliance, and working hand-in-hand with regulators and institutions.” 

Sajwani also noted that partnerships have been central to PRYPCO’s growth, serving as a cornerstone for building customer trust. In May 2025, PRYPCO collaborated with the real estate regulatory authority the Dubai Land Department, to tokenize title deeds—considered a global first—marking a turning point in building credibility. Alongside banking and technology alliances, these relationships, explained Sajwani, "gave PRYPCO the legitimacy and scale needed to grow rapidly while keeping innovation firmly rooted in trust.” 

Sajwani noted that having roots in the UAE has also given PRYPCO a strong foundation and supported the company’s innovation-driven outlook. “The UAE is one of the few places where innovation and regulation truly move in sync,"  she said. "You have a government that doesn’t just encourage new ideas but creates the frameworks to make them possible, from tokenized title deeds to the launch of Dubai’s proptech hub under the Real Estate Strategy 2033. This progressive environment, backed by world-class infrastructure, gives entrepreneurs like us the confidence to scale globally from Dubai." 

Beyond regulation, Dubai’s booming property sector has created fertile ground for proptech to scale. Sajwani noted that the emirate’s real estate market—valued at AED2.24 billion ($610 million) in 2024 and projected to nearly triple by 2030 under the D33 Economic Agenda—offers the scale, diversity, and pace to turn the UAE into both a proving ground for innovation and a place where global benchmarks in property technology are being set. 

Furthermore, Sajwani believes the industry is on the cusp of a shift that will make property ownership far more inclusive to a broader pool of customers than ever before. “We’re going to see real estate become far more accessible, liquid, and transparent than ever before," she said. "Fractional ownership and tokenization will move from being early adopters’ tools to becoming mainstream investment models, opening doors for a much wider base of investors to participate in markets like Dubai.” 

This, Sajwani explained, is largely enabled by the integration of technological advancements that promise to overhaul the industry. “From artificial intelligence (AI)-driven valuations and instant mortgage approvals, to blockchain-enabled title transfers that cut transaction times from weeks to minutes," she noted that the manner in which transactions are done in the real estate market is changing. "Regulation will evolve rapidly to support these innovations, with Dubai already leading the way through initiatives like digital title deeds and the proptech hub," she added. "Together, these shifts will reshape real estate into an asset class that is truly global, digital, and inclusive.” 

In terms of advice for other proptech founders, Sajwani pointed to one non-negotiable: establishing trust. “In proptech, you’re not only innovating; you’re asking people to place their money and their future into something new; so, credibility is everything," she said. "From day one, work hand-in-hand with regulators, banks, and institutional partners. Those relationships give you legitimacy and create the foundation for long-term growth.” 

Equally important, Sajwani stressed, is simplicity. In real estate, technology should clear hurdles, not create new ones. “If your product requires a manual to use, you’re not there yet," she said. "The winners in proptech will be those who build strong foundations but keep the experience simple and seamless for the customer."

Pictured in the lead image is PRYPCO founder and CEO Amira Sajwani. Image courtesy PRYPCO.