PRYPCO, a Dubai-based property technology (proptech) startup, has secured $10 million in seed funding. The round was led by Shorooq Partners, a venture capital firm from Abu Dhabi, with strategic support from Dubai’s Apparel Group and other investors. This funding is a significant step for PRYPCO, enabling the startup to scale its operations and further expand its innovative services in the real estate sector.

The Seed Funding and Strategic Partnerships

The seed funding round, which concluded in September 2024, was pivotal for PRYPCO’s growth trajectory. Shorooq Partners, a prominent player in venture capital, led the investment round with the backing of the Apparel Group, which brings a strong retail presence in the region. This collaboration highlights the strategic alignment between tech-driven property solutions and the broader commercial landscape.

Amira Sajwani, founder and CEO of PRYPCO, described the investment as a key milestone in the company’s journey. “This funding will allow us to scale our ecosystem and broaden our service offerings, delivering even more value to our customers,” she said. The company is focused on providing what it calls “Real Estate Freedom,” democratizing access to property investments for a wider demographic.

Shorooq Partners’ founding partner, Mahmoud Adi, commended PRYPCO’s approach to fractional ownership and its role in transforming property investment in the region. By offering a more accessible entry point for investors, PRYPCO is lowering traditional barriers to real estate investment, a move that has resonated with a diverse range of stakeholders.

PRYPCO’s Core Offerings

PRYPCO has carved out a unique space in the proptech sector with a variety of services designed to streamline and digitize real estate processes. Among its key offerings is PRYPCO Blocks, a fractional ownership platform regulated by the Dubai Financial Services Authority (DFSA). PRYPCO Blocks allows investors to buy stakes in Dubai’s leading rental properties with a minimum investment of AED 2,000 (about $544), giving investors access to the lucrative property market without requiring significant capital outlays.

Since its launch, PRYPCO Blocks has already made an impact by funding its first major project: the Bellevue Towers in Dubai Downtown. This project attracted 209 investors from over 40 countries, further highlighting the platform’s global appeal. On average, investors contributed AED 6,220 ($1,693), demonstrating the platform's appeal to both local and international clients looking for flexible real estate investment options.

The company also offers PRYPCO Mortgage, a service providing home loans to help clients secure properties. In August, the mortgage arm hit a new high by disbursing over AED 500 million ($136 million) in loans, solidifying its position as a key player in the UAE’s mortgage market.

Additionally, PRYPCO Exclusives offers brokers access to exclusive property listings, particularly in the secondary property market. This service aims to provide a competitive edge for brokers in Dubai’s fast-paced real estate sector. Complementing this is PRYPCO Golden Visa, a service that helps clients secure long-term residency in the UAE, adding another layer of value to its ecosystem by linking property investment with residency opportunities.

Growth and Expansion Plans

The seed funding is set to turbocharge PRYPCO’s ambitious growth plans. Having already established a strong foothold in the real estate sector, the company aims to scale its operations further. Sajwani has outlined plans to increase PRYPCO's ecosystem of services, driving toward the company’s goal of $250 million in annual recurring revenue by 2027. PRYPCO’s vision centers on leveraging technology to make real estate more accessible, both in terms of investment and the services surrounding it.

With the fresh capital, PRYPCO will look to grow its user base, continue building its brand as a leading digital real estate platform, and introduce new services to address evolving market needs. The company’s focus on democratizing property investment, particularly through its fractional ownership model, has set it apart from traditional real estate players in the region.

PRYPCO’s successful $10 million seed funding round marks a crucial step in its mission to transform the real estate landscape in Dubai and beyond. By leveraging its core offerings, including fractional ownership, mortgages, and residency services, the startup is positioned to play a central role in the evolving property investment space. With backing from leading investors and strategic partners, PRYPCO is well-poised for significant growth, driving the future of proptech in the UAE while helping a broader range of investors access real estate opportunities.