The Venture Codex

Participated · Seed · Feb 2021

Sakneen operates an online property portal that helps homebuyers search for homes in Egypt. The startup was founded in late 2019 by Ramy Khorshed and Hussein El Kheshen. It focuses on building data-driven tools to reduce information asymmetry in a low-technology-penetration real estate market. The company plans to launch several new features in the coming weeks and a couple of completely new products shortly afterward. Financially, Sakneen has just completed a Seed financing round to support product development and growth. Sakneen is building an online real estate platform to simplify buying and selling of properties for developers, agents, and individuals. The company says it will tackle disorganized public information, mismatched incentives in the sales process, and a lack of transparency around financials. Its platform, still in development, is expected to launch later this year and will let individuals search both primary and secondary properties through Sakneen's own search engine. The startup has said it will not feature paid ads or listings. For monetization it plans to charge developers and agents a monthly fee and may explore monetizing transactions in the future. Sakneen was founded in late 2019 by Ramy Khorshed and Hussein El Kheshen and is based in Cairo. The company participated in Y Combinator's Winter 2020 batch and received funding as part of that program.