Egyptian prop-tech startup Partment is on a mission to redefine second-home ownership through its innovative "invest and experience" co-ownership platform. Founded in 2022, Partment allows users to part-invest in carefully selected properties, creating personalized and diversified real estate portfolios. This fractional ownership model provides co-owners with access to a set number of nights for personal use or rentals, all efficiently managed by Partment's Smart Booking System.
According to Nadim Nagui, co-founder of Partment, traditional options of complete ownership and rental arrangements for second homes had a significant gap, primarily due to high costs and limited usage. Partment's co-ownership fills this void, offering a smoother and more seamless experience. The startup closed a pre-seed round of US$1.5 million in September 2022, with notable support from investors like Nclude and Plus Venture Capital.
Partment's success is further highlighted by its strategic partnership with ValU, a leading financing solution in the region known for its expertise in the "buy now pay later" market. This collaboration has enhanced the co-ownership experience, making it more accessible and appealing to a broader audience.
Nagui expressed excitement about Partment's expansion, starting from Gouna to the North Coast and Somabay along the Red Sea shores. The startup has recently marked its first international venture into Athens, Greece, signaling the beginning of a global journey with more exciting destinations on the horizon. The positive market response and customer engagement reflect Partment's commitment to fulfilling the genuine need for seamless and affordable second-home ownership.
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