Egypt startup Sakneen secures Y Combinator investment

Egypt startup Sakneen secures Y Combinator investment

Published: 23-06-2020 15:34:00 | By: Pie Kamau | hits: 1622 | Tags:

Cairo based real estate startup Sakneen has been backed by Y Combinator in its mission to help homebuyers digitally search for and buy homes in Egypt.

The Silicon Valley based incubator was an early investor behind household names such as Airbnb, Dropbox, Reddit, and Stripe. Their top 100 companies alone have grown to be worth $155 Bn USD.

Finding the right home is a time-consuming and overwhelming process that wastes valuable time, money, and effort. Moreover decisions are often influenced by commission structures and not the needs of the homebuyer. Sellers also lose out on opportunities simply because the buyer wasn’t aware of the seller’s offering. Sakneen mission is simple & global - to help millions of aspiring homebuyers find their homes.

Sakneen is looking to reinvent the real estate process. Standing in the way of a better real estate experience is disorganized public information, mismatched incentives in the sales process, and a lack of transparency around financials. The company is building the technology that will help tackle all three with the vision of turning the struggle of finding a home into a joy for millions of homebuyers.

Sakneen's first task is to bring transparency to the search process by helping real estate developers and sellers connect directly with potential buyers. While the need for a superior digital experience was always clear, it was only made more urgent by the impact of COVID-19.