Aqar Exit raises EGP 10 million for its property contract transfer platform

Egyptian prop-tech startup Aqar Exit has raised EGP 10 million (about $183,000) from Ayman Mamdouh Abbas, executive chairman of Intro Holding Group, in exchange for a 10 per cent stake. Wamda reported the same EGP 10 million as $200,000.

Aqar Exit runs a platform for transferring property purchase contracts. It is aimed at buyers who are struggling with instalment payments on their units, and connects them with buyers willing to take over the contract at the original price, without an added premium. Sellers recover what they have paid without contract assignment fees.

The investment follows the company's appearance on Shark Tank Egypt. Aqar Exit plans to use the funding to build more products and expand into international markets, starting with the Gulf.

Reported by Disrupt Africa.