PRYPCO, a property technology firm based in the UAE, has announced that General Catalyst, a US venture capital company, has led its pre-series A funding round. This marks the first investment by General Catalyst in the proptech sector within the Middle East.
This funding highlights PRYPCO’s rapid growth in the region’s proptech industry. The company has already facilitated nearly Dhs10 billion ($2.72 billion) in mortgage transactions, assisted over 3,000 individuals in obtaining UAE Golden Visas, and attracted upwards of 50,000 users to its fractional ownership platform, PRYPCO Blocks.
According to PRYPCO, users have invested approximately Dhs20 million across 21 properties through this platform.
Additionally, PRYPCO has launched tokenized property investments in the region through its PRYPCO Mint platform, which has attracted nearly 2,000 investors contributing over Dhs16 million. This positions PRYPCO as the first platform in the MENA region to tokenize real estate and the first globally to collaborate with the Dubai Land Department for title deed tokenization.
In a statement, the company expressed that the new funding will enable PRYPCO to broaden its services, enhance regulatory partnerships, and continue its growth trajectory.
CEO highlights General Catalyst’s investment as a significant achievement
Amira Sajwani, the founder and CEO, stated: “We are creating the future of real estate, where property ownership transcends the limits of capital, geography, and bureaucracy. Securing support from General Catalyst at this juncture is a pivotal milestone; it underscores the urgent issues we are addressing and strengthens our position in driving this global transformation.”
Neeraj Arora, Managing Director at General Catalyst, commented: “We are thrilled to partner with Amira and the PRYPCO team in their endeavor to make real estate investments accessible to all in one of the most vibrant and influential property markets in the world.”
PRYPCO’s offerings also cater to over 60,000 real estate agents across the UAE, providing access to 300 secondary projects, a comprehensive database of 1,500 projects, and additional revenue opportunities through mortgage and Golden Visa referrals.
The company noted that its properties often sell out within minutes, attracting a growing number of global investors as Dubai and the surrounding region advance in property innovation and digital assets.