{"id":89540,"date":"2024-09-11T00:00:00","date_gmt":"2024-09-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/11\/propetch-hissatech-closes-sar-2-5-mn-pre-seed-round\/"},"modified":"2024-09-11T00:00:00","modified_gmt":"2024-09-11T00:00:00","slug":"propetch-hissatech-closes-sar-2-5-mn-pre-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/09\/11\/propetch-hissatech-closes-sar-2-5-mn-pre-seed-round\/","title":{"rendered":"Propetch HissaTech closes SAR 2.5 mn pre-seed round"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Homegrown proptech startup <\/strong><strong><a target=\"_blank\" href=\"https:\/\/hissatech.com\/\" style=\"\" rel=\"noopener\">HissaTech<\/a><\/strong><strong> has raised SAR 2.5 mn (USD 670k) in a pre-seed<\/strong><strong> round led by unidentified angel investors<\/strong>, the company said in a <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/hissatech-closes-670000-pre-seed-round-english\" style=\"\" rel=\"noopener\">press release<\/a>. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Use of proceeds: <\/strong>The freshly raised funds will go towards growing the startup\u2019s customer base in the Kingdom, upgrading its platform, and establishing new partnerships to \u201csolidify\u201d its standing in the property technology sector. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The pitch: <\/strong>The proptech company, founded this year by Ali Alshareef (<a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ali-alshareef-6148b8bb\/\" style=\"\" rel=\"noopener\">LinkedIn<\/a>), aims to lower the entry barrier for the real estate market, allowing investors to co-own income-generating real estate assets for investments starting from as little as SAR 500, according to its <a target=\"_blank\" href=\"https:\/\/hissatech.com\/\" style=\"\" rel=\"noopener\">website<\/a>.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\"><strong>ALSO FROM STARTUPLAND-<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Saudi startups raised USD 16 mn in nine transactions in August, the second-highest<\/strong> <strong>number in MENA<\/strong> after the UAE, according to <a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/mena-startups-raise-83-million-august-2024-76-mom-decline\" style=\"\" rel=\"noopener\">Wamda<\/a><a target=\"_blank\" href=\"https:\/\/www.wamda.com\/2024\/09\/mena-startups-raise-83-million-august-2024-76-mom-decline\" style=\"\" rel=\"noopener\">data<\/a>. MENA startups drew USD 83 mn in investments last month, down 24% y-o-y.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The funds will go towards growing the startup\u2019s customer base<\/p>\n","protected":false},"author":1,"featured_media":89541,"comment_status":"","ping_status":"open","sticky":false,"template":"","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":[2556],"tags":[10,2443,106,179,521],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89540","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam-ksa","tag-hissatech","tag-real-estate","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"7658737e-e1ce-41ac-81da-672201f5edca","order":"8","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/2181.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi proptech HissaTech closes SAR 2.5 mn pre-seed round","related_issue":[89525],"teaser":"The funds will go towards growing the startup\u2019s customer base","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/9\/.25094ad3-e647-4b86-a0c4-5bfab95d19c8.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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