UAE-Based PRYPCO Secures US$10 Million Seed Round
The investment was led by Shorooq Partners, with participation from Apparel Group and other investors.
UAE-based proptech PRYPCO has raised US$10 million in a seed funding round led by Shorooq Partners, with participation from Apparel Group and other investors.
This investment will enable PRYPCO to scale its operations and enhance its offerings to various stakeholders involved in the real estate process.
Founded in 2022 by Emirati entrepreneur Amira Sajwani, PRYPCO operates through four distinct verticals: PRYPCO Blocks, PRYPCO Mortgage, PRYPCO Exclusives, and PRYPCO Golden Visa.
In a statement about the investment, Sajwani, founder and CEO of PRYPCO, said, “Real estate is the largest asset class globally, yet for many, the barrier to entry is still too high or complex, especially for the new generation. Our mission is to build the region’s leading real estate ecosystem that benefits everyone. With this investment, we can further expand our ecosystem, offer new opportunities, and ensure that we enable real estate freedom for all.”
Meanwhile, Mahmoud Adi, founding partner at Shorooq Partners, said, “We are always looking to back visionary companies that harness technology to disrupt traditional sectors, and PRYPCO is doing just that in the real estate market. Their innovative approach, particularly in fractional ownership, democratizes access to property investment, creating new opportunities for a diverse range of investors. We believe PRYPCO is set to redefine how people interact with real estate, and we’re excited to be part of their journey toward enabling real estate freedom for all.”
PRYPCO Blocks is a fractional ownership platform regulated by the Dubai Financial Services Authority (DFSA), ensuring a secure and transparent investment process. It allows investors to digitally participate in Dubai's rental properties starting with an investment of just AED 2,000 (US$544.51). Since its launch, PRYPCO Blocks has fully funded nine properties and plans to introduce additional investment opportunities in the near future.
In addition, PRYPCO Mortgage simplifies the home-buying experience by providing straightforward home loan solutions. The platform recently reported disbursing over AED 500 million ($136.13 million) in a single month, marking a record for the company.
The company’s third vertical, PRYPCO Exclusives, provides real estate brokers with access to exclusive secondary properties. The platform currently features over 250 listings across more than 70 projects.
Lastly, the PRYPCO Golden Visa assists individuals in obtaining long-term residency in the UAE by managing the required paperwork and enhancing its service portfolio.
