Egypt’s Seqoon Raises USD 500 K Pre-Seed Round

Seqoon, a real estate co-ownership startup, raised USD 500 K in a pre-seed round through Banque Misr’s pilot program to support innovative startups in Egypt. The round saw participation from several notable angel investors as well. Seqoon plans to use the capital to grow its team and has now launched in El Gouna as its first co-ownership destination.

Seqoon offers a new take on real estate ownership by empowering people to own shares of a vacation home while enjoying the full perks of real estate. The company makes co-ownership feasible through its legal model powered by law firms Zaki Hashem & Partners, and Shehata & Partners. It intends to expand into other Red Sea destinations, such as Dahab, as well as the Mediterranean North Coast by 2023.