In a pre-seed round, Partment, a PropTech company that lets people share second homes, raised $1.5 million.
Nclude, a venture capital platform that focuses on investing in FinTech firms in Egypt and the MENA region, as well as Plus Venture Capital (+VC), a venture capital firm centered in the MENA region that invests in pre-seed and seed technology startups, were the ones that led the round.
In 2021, a group of our former coworkers got back together to make a joint investment, most likely a vacation property. We saw the benefits of splitting the money needed and the costs of running it. Still, we also saw how complicated it would be to deal with the legal structure, the rules for using it, the maintenance, and, eventually, the exit.
This made us want to make Partment, which makes it easy for people to share ownership through a solid legal framework and a top-notch technology platform. The CEO of Partment, Nadim Nagui, talked to WAYA about what led him to start the company.
Nagui also told us their money would improve the startup’s infrastructure and roll out its MVP. Nadim Nagui and Ahmed Raggal came up with the idea for Partment in 2022 to develop a hassle-free alternative for second house co-ownership. Partment allows customers to co-own second homes at a fraction cost by providing a digital platform and a smart booking system. In addition, Partment offers an end-to-end property management service, which maximizes the usage of the properties.