The Egyptian based Sakneen raises US$1.1-million from investors led by Algebra Ventures

The Egyptian based Sakneen has raised US$1.1-million from investors led by Algebra Ventures with participating investors known as  Sarwa Capital, Foundation Ventures, Hem + Spire, Nakhla VC, BlackRock and McKinsey. Sakneen is an online platform that allows users to buy and sell private housing in a seamless method. The company was established in 2019 by Ramy Khorshed and Hussein El Kheshen and has expanded since taking part in the Y Combinator accelerator programme.

Algebra Ventures is a well-known technology venture capital firm in Egypt that invests in core technology, e-commerce, fintech, industry marketplaces, business software and consumer internet companies. The firm has invested in companies such as Larena, Elmenus, Eventtus, Holidayme, Orcas and Brimore amongst others. The stake acquired in the investment round was not disclosed.

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