{"id":559896,"date":"2021-02-08T03:52:59","date_gmt":"2021-02-08T03:52:59","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/"},"modified":"2021-02-08T03:52:59","modified_gmt":"2021-02-08T03:52:59","slug":"sakneen-raises-usd-1-1-mn-in-seed-funding-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/","title":{"rendered":"Sakneen raises USD 1.1 mn in seed funding round"},"content":{"rendered":"

<\/a> Egyptian real estate marketplace Sakneen<\/a> has raised USD 1.1 mn in an<\/strong> oversubscribed seed funding round<\/strong> led by Algebra Ventures, with \u201cmajor participation\u201d from Sarwa Capital and Foundation Ventures, according to a statement (pdf)<\/a>. The round also saw participation from US-based real estate private equity firm Hem+Spire, Saudi-based Nakhla VC, as well as angel investors with pedigrees that include Google and BlackRock. Sakneen provides a search engine with \u201cdetailed search abilities like allowing users to search by down payment, monthly payment, and unique data points like NPV and travel times,\u201d CEO and co-founder Ramy Khorshed said.<\/p>\n

Where the investment is going:<\/strong> Sakneen plans to use the funding primarily on its products and technology, and to retain the talent the company has on board, Khorshed told Enterprise. The company is currently \u201cactively working on several new features\u201d it plans to roll out within the next few weeks, and is looking to launch \u201ccompletely new products\u201d in the near future, CTO and co-founder Hussein El Kheshen said.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egyptian real estate marketplace Sakneen has raised USD 1.1 mn in an oversubscribed seed funding round led by Algebra Ventures, with \u201cmajor participation\u201d from Sarwa Capital and Foundation Ventures, according to a statement (pdf). The round also saw participation from US-based real estate private equity firm Hem+Spire, Saudi-based Nakhla VC, as well as angel investors […]<\/p>\n","protected":false},"author":1,"featured_media":559897,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[398,933,72,3733,2145,95,698],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559896","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-algebra-ventures","tag-contact-financial","tag-enterpriseam","tag-foundation-ventures","tag-sakneen","tag-startup-watch","tag-y-combinator","wpautop","entry"],"acf":{"mongo_id":"3cead6a5-7b8d-4a13-be24-69209600815b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/2\/134.jpg","photo_position":"above","related_issue":[559881],"teaser":"","voice_url":""},"yoast_head":"\nSakneen raises USD 1.1 mn in seed funding round - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sakneen raises USD 1.1 mn in seed funding round\" \/>\n<meta property=\"og:description\" content=\"Egyptian real estate marketplace Sakneen has raised USD 1.1 mn in an oversubscribed seed funding round led by Algebra Ventures, with \u201cmajor participation\u201d from Sarwa Capital and Foundation Ventures, according to a statement (pdf). The round also saw participation from US-based real estate private equity firm Hem+Spire, Saudi-based Nakhla VC, as well as angel investors […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-02-08T03:52:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/134.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sakneen raises USD 1.1 mn in seed funding round\",\"datePublished\":\"2021-02-08T03:52:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\"},\"wordCount\":173,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/2\/134.jpg?fit=%2C&ssl=1\",\"keywords\":[\"Algebra Ventures\",\"Contact Financial\",\"EnterpriseAM\",\"Foundation Ventures\",\"Sakneen\",\"Startup watch\",\"Y Combinator\"],\"articleSection\":[\"Startup watch\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/02\/08\/sakneen-raises-usd-1-1-mn-in-seed-funding-round\/\",\"name\":\"Sakneen raises USD 1.1 mn in seed funding round - 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The company hopes to close an initial USD 1 mn round in the first quarter of next year and will deploy the funds\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/12\/436.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572191,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/15\/sakneen-raises-usd-150k-in-pre-seed-funding-from-y-combinator\/","url_meta":{"origin":559896,"position":1},"title":"Sakneen raises USD 150k in pre-seed funding from Y Combinator","author":"enterpriseam admin","date":"15 June 2020","format":false,"excerpt":"STARTUP WATCH- Egyptian homebuying online platform Sakneen has raised USD 150k in pre-seed funding from US accelerator Y Combinator, co-founders Hussein El Kheshen and Ramy Khorshed told Enterprise in an exclusive interview. The company became one of the very few Egyptian startups to receive funding from the high-profile accelerator earlier\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/6\/160.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":563872,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/07\/27\/contact-makes-first-sukuk-sale-this-year\/","url_meta":{"origin":559896,"position":2},"title":"Contact makes first sukuk sale this year","author":"enterpriseam admin","date":"27 July 2021","format":false,"excerpt":"Contact closes its second EGP 2.5 bn sukuk offering: Contact Financial Holding, formerly Sarwa Capital Holding, has closed its second sukuk issuance worth EGP 2.5 bn, the company said in a statement (pdf). The sharia-compliant mudaraba sukuk carries a seven-year tenor and will be used to finance the expansion of\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/7\/263.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":569834,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/03\/09\/fintech-startup-khazna-secures-seed-funding-led-by-algebra-ventures\/","url_meta":{"origin":559896,"position":3},"title":"Fintech startup Khazna secures seed funding led by Algebra Ventures","author":"enterpriseam admin","date":"9 March 2020","format":false,"excerpt":"STARTUP WATCH- Khazna secures seed funding led by Algebra Ventures: Egyptian fintech startup Khazna has raised an undisclosed amount of seed funding from a group of investors led by Algebra Ventures, the company said in a statement (pdf). Accion Venture Lab, which had recently secured USD 33 mn in funds\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":543439,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/02\/01\/brimore-secures-usd-25-mn-in-series-a-funding\/","url_meta":{"origin":559896,"position":4},"title":"Brimore secures USD 25 mn in series A funding","author":"enterpriseam admin","date":"1 February 2022","format":false,"excerpt":"Social commerce startup Brimore has raised USD 25 mn in series A funding, the company announced in a statement (pdf) yesterday. The round was led by the International Finance Corporation and Silicon Valley VC Endure Capital, and featured participation from Fawry, Flourish, and Endeavor Catalyst Fund, as well as existing\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/6.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":626671,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/07\/09\/algebra-ventures-leads-usd-1-5-mn-funding-round-for-jordans-posrocket\/","url_meta":{"origin":559896,"position":5},"title":"Algebra Ventures leads USD 1.5 mn funding round for Jordan\u2019s POSRocket","author":"enterpriseam admin","date":"9 July 2018","format":false,"excerpt":"INVESTMENT WATCH- Algebra Ventures leads USD 1.5 mn funding round for Jordan\u2019s POSRocket: Egypt\u2019s Algebra Ventures led a USD 1.5 mn second round of funding for Jordan-based startup POSRocket, according to a press release on Monday (pdf). KISP Ventures, Arzan VC, Financial Horizon Group, and two other angel investors also\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559896","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=559896"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/559896\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/559881"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/559897"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=559896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=559896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=559896"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=559896"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=559896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}