isqan.com, an Egypt-based property-listing platform, has raised a six-figure seed funding round from the CEO of EGYGAB HOLDING, Mohamed Gaballah.

Founded four months ago, isqan.com has onboarded more than 50 companies, with property listings reaching over ten thousand. The startup plans to use the funds to hire more talent, invest in its marketing channels and develop its product.

“We are thrilled to be working with engineer Mohamed Gaballah. His investment in isqan.com is a testament to his belief in our team, product and growth strategy,” said Karim Kazem, co-founder of isqan.com.

The startup, according to its briefing, plans to close another financing round towards the final quarter of 2021 to bolster its growth plans.

“We aim to digitise the entire real estate industry in Egypt by providing users with the easiest, fastest and most powerful real estate search experience possible,” said Ali Ezzat, co-founder at isqan.com.

According to Omar Mohamed, the chief technical officer (CTO), tech lead at Isqan.com the investment will also support isqan.com in providing a valuable service and offering real value to its users by guiding them to make their next real estate purchase, helping usher the Egyptian real estate market into the modern age.

“isqan.com is a very unique product to the real estate market, not only that it provides a much-improved user experience and incredibly powerful features, but it is also powered by a very advanced and modern tech stack which enables us to provide these unprecedented offerings to the market,” said Omar Doma.

The startup also aims to close a further funding round in the final quarter of 2021 in order to boost its development plans.

According to Afrikan Heroes, Mohamed Gaballah’s faith in isqan was strengthened by the fact that Isqan.com’s team is a very strong one, with both co-founders of the startup having previous experience in the real estate industry.

As a real estate brokerage owner based in Dubai, Karim Kazem, CEO and Co-Founder of Isqan.com was able to realize the unquestionable importance of how real estate portals contribute to the digital economy. It was not long until he started working towards launching a real estate listing portal in Egypt.

In September 2020, iqan.com raised a six-figure seed round from an undisclosed angel.

Isqan.com is offering in the Egyptian property market, a completely free of charge service, giving end-users three free listings, to help them rent or sell a property. Isqan.com has partnered with a number of market leaders to offer users a wide range of trusted and legitimized options.

“We created Isqan.com to simplify the home buying, selling, and renting process.

Isqan.com is an easy way for today’s clientele to search for commercial and residential properties. We aim to tap in to local and international property markets, ultimately revolutionizing the Middle Eastern digital real estate landscape,” Karim Kazem.

Companies listed on the platform include Egypt Best Properties, New Avenue, Byotat, Insider, B2B, Ultimate Real Estate, Remax, Irtkaz, Era, Daddy Estate Investment, Abrag, Proper Move, among several others.

source: africaincmag

In the embrace of new technology, every step counts in Egypt’s digital transformation, according to Jacques-Emmanuel Blanchet CEO, HSBC Egypt.

Egypt’s banking architecture is getting a digital upgrade. Efficiency and personalisation are at the top of the list of preferences as one of the world’s oldest civilisations undergoes a very modern disruption.

Progress and change

Two of Egypt’s national goals, to modernise its economy and to support a rapidly growing population, are being carried out within a positive economic outlook. The GDP in the fiscal year 2018 is expected to rise by 5.8%. Egypt’s proactive attitude is driving digital growth in the country’s banking sector and is filtering down to the consumer too. This is largely down to the government, the Central Bank of Egypt(CBE) with the support of the local banking community.

A progressive tone from the top is matched by an enthusiastic response from the banks and the public. This banking ‘marriage’ is bearing fruit.

Seamless customer experience

From the top down, the National Payments Council is putting in a general framework to shift to a less cash-based society, and to create a national system of payment and cards. Meanwhile, the CBE is investing heavily in developing a ‘seamless’ customer experience that is more efficient and easy to use.

Both aim to safeguard the value of human interaction i.e. intensifying the level of trust and loyalty in the customer-bank relationship. The country’s approach includes the promotion of innovative technologies in the design and delivery of financial services. This includes the review of digital banking regulations, and the launch of a fund for innovation and talent investments worth EGP 1bn ($558m).

Digital maturation

From the bottom up, Egypt’s banking community – banks and customers alike – is keen to embrace change. Nearly all respondents, 90.57%, to an HSBC digital survey carried out in Cairo, expect ‘the internet of things’ (the trend towards more devices being online) to have a major impact on their existing business model. Leveraging this appetite for digital maturation is key.

The same applies to tailoring services for different socioeconomic and digitally-able customers. Clear communication to improve understanding within the banking community is vital to build trust and adopt digital banking tools. Patience is also essential, as it will take time to shift the national psyche towards digital banking.

It’s about family

Egypt’s tightknit family and social network must be addressed in banks’ marketing and communication programmes as ‘word-of-mouth’ recommendations carry significant weight when it comes to building reputations and communicating change. The influence of informal knowledge sharing in Egypt will only heighten as the world’s most populated Arab nation gets busier. The United Nations (UN) expects Egypt’s 97 million population today to rise to 120 million by 2030 – a 23% growth in less than 12 years.

As one of the largest multinational banks in Egypt, and with a presence since 1982, HSBC’s unwavering dedication to build its digital knowledge will continue. The bank has been a leading and respected voice on digital advancements for over three decades. Plans to spend $15bn-$17bn on technology, worldwide, up to 2020 are underway, in addition to $6bn in recent years. Such efforts will undoubtedly enhance Egypt’s digital journey, be it through talent creation, research and development, or tech deployment.

Digital toolbox

There are many new digital methods that Egypt’s banking community can use. These include the next generation virtual accounts, enhanced liquidity management, and more streamlined mobile collections and payments. HSBC is always working on how to design and deploy new technologies, including machine learning, artificial intelligence (AI), biometrics and blockchain.

HSBC completed its inaugural blockchain transaction for trade finance this year. This is highly relevant for a growing banking community as each transactional step is entirely transparent and accountable. It is also attractive for Egypt’s growing trade finance market as the country’s gas exports, for example, are likely to rise significantly.

More than half, or 56.6%, of survey respondents to our digital research agreed that international trade has become more difficult over the last three years. This means that making cross-border trade easier by using digital tools is even more critical to sustain Egypt’s global competitiveness.

Challenges to overcome

As with any market in development, some areas need more attention. These include improving cybersecurity, legal frameworks, and scalability. Therein lies the value of collaboration and knowledge sharing, something that HSBC is able to facilitate.

To take an example – globally, banks’ ties with Fintechs are thriving. HSBC’s data showed that approximately $31bn was invested in Fintechs around the world last year. Collaboration agreements and sandbox environments, both promoted by regulators, can help test the relevance of new technologies in Egypt’s banking community.

We must not fear the unknown. Egypt must keep its best foot forward, for every digital step counts.

Source:zawya