Raed Ventures announced its investment in Aqarmap the leading and fastest growing real estate marketplace in Egypt with presence in Saudi Arabia. This round was led by Wamda Capital with participation from KISP Ventures. Aqarmap aims to solidify its presence in Egypt in addition to expanding its presence into new markets such as Saudi Arabia.
Amad Almsaodi, CEO and Founder of Aqarmap stated: “We are honored to have 3 of the leading VC firms in the MENA backing Aqarmap and believing in our vision. Despite our limited funding in the past, we managed to outperform all our competitors, and today we are bigger than all our direct competitors combined by all relevant metrics. We are especially proud that we generate more than 200,000 leads every month, and have helped sell more than 15,000 properties in 2017 worth 12 Billion Egyptian Pounds. We are going to use these new funds to solidify our existing leadership position in Egypt, grow our presence in Saudi Arabia, and expand into more markets.”
Omar Almajdouie, Founding Partner of Raed Ventures said: “We are proud to participate in Aqarmap’s latest round in support of Amad’s visionary leadership whose persistence allowed the company to achieve sustainable growth with limited resources.”