Egyptian Prop-Tech Startup Partment Raises $1.5M for Co-Ownership Platform
Cairo-based Partment has closed a $1.5 million pre-seed round to expand its fractional second-home ownership model.
AfroEuropa Newsroom
AfroEuropa desk
Egyptian prop-tech startup Partment has secured a pre-seed funding round of $1.5 million, closed in September, according to Disrupt Africa.
Founded in 2022, the company runs a co-ownership platform it describes as "invest and experience," letting users buy fractional stakes in curated properties. Co-owners receive a defined number of nights for personal use or for renting out, handled through the company's Smart Booking System, Disrupt Africa reported.
Co-founder Nadim Nagui told the outlet that real estate ownership requires significant capital, guidance and time, leaving only one per cent of the population able to afford vacation homes. He added that such second homes are typically used for just 10-20 per cent of the year, an efficiency gap the founders set out to address.
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