Press release:
Egyptian proptech startup Aqar Exit has secured an investment of EGP 10 million (approximately $200,000) from businessman Ayman Mamdouh Abbas, executive chairman of Intro Holding Group, in exchange for a 10% stake in the company.
The transaction values Aqar Exit at EGP 100 million (approximately $2 million) on a post-money basis, according to founder and chairman Mahmoud Ammar, who disclosed the investment in an interview with Al Arabiya Business.
Founded in July 2026, Aqar Exit operates a platform for transferring property purchase contracts, targeting buyers who are struggling to meet instalment obligations on their real estate units.
The platform connects these sellers with prospective buyers seeking properties at their original contract prices, without paying additional premiums, commonly known in Egypt's property market as overprice.
Under the company's model, sellers can seek to recover the amounts they have already paid towards their properties without incurring contract assignment fees.
The investment follows Aqar Exit's participation in the fifth season of Shark Tank Egypt, where it presented its business model to investors.
According to Ammar, the company will use the new capital to develop additional products and support its expansion into international markets, with a particular focus on the Gulf.
Aqar Exit has reported EGP 9 billion in closed listings since launching, covering 638 transactions, including 404 in its most recent reported month, compared with 233 in the preceding month.
However, the company's definition of a closed transaction includes any listing removed from the platform, meaning the figures do not necessarily represent completed property sales or revenue generated by Aqar Exit.
The platform has also registered 14,845 property assignment files submitted by 11,833 sellers, alongside 67,013 purchase requests from 32,870 prospective buyers.
Average daily purchase requests increased by 58% to 1,060, from 671 in the preceding period, according to company figures.
Looking ahead, Aqar Exit plans to pursue a funding round of approximately $5 million in 2027, targeting participation from Egyptian and international investors, businesspeople and investment funds.
The planned financing would support the company's product development and regional expansion as it seeks to establish a broader market for transferring property purchase contracts.