Tech in Africa
Sakneen, a Cairo real estate platform has received funding and support from Y combinator. The 2020 Winter batch graduated sometime this year after holding a virtual demo day. Thus far the startup has raised $150,000 from the combinator – both of whom are part of YC S19.
Trella and Breadfast are the other Egypt-based startups that have graduated from Y Combinator. They were also shortlisted to YC S19. (Sakneen stands out as one of those startups intending to make a presentation at the next YC demo day. This was why they remained absent from YC’s W20 batch or regional media outlets.
Hussein El Kheshen and Ramy Khorshed founded Sakneed in 2019, and they aim to ease the process of buying and selling of homes by agents, developers, and individuals. As of now, the platform is still under development and is expected to be launched sometime this year. Their current revenue model will require agents and developers to pay a small monthly fee. This was affirmed by Menabytes where the CEO who is also the co-founder, Ramy, revealed his intentions of monetizing future transactions.
People searching for homes can browse through property inventory searches. Thus far they have no intention of featuring paid ads or listings.
