Egypt’s software provider Milango acquires local rival Circle

EGYPT – Milango, a community management software provider, backed by A15, has acquired local rival Circle, a 500 Startups-backed company.

The acquisition will help Milango increase its market share and further solidify its position as the premium community management solution in the region.

The acquisition grows Milango’s contracted user base to more than 100,000 residential units and the startup aims to leverage the acquisition to accelerate its growth in the community management category.

It also allows the two PropTech start-ups to explore further Tech opportunities as they consolidate their user-base.

In doing so, the new entity has set forth to position itself as a regional player able to expand into neighboring geographies and beyond.

We are confident that with the acquisition of Circle and the addition of their premium clients to our portfolio, we are on the right track to bring ASmarterLife to all communities,” said Amr Mostafa, Milango’s CEO.

I strongly believe that the synergies this deal creates will shape a stronger proposition, that will serve millions of households across the region,” said Essam Maged, CEO Circle.

The Egypt-based Proptech Milango provides a seamless solution to digitize and track interaction between tenants, property owners, and patrons.

Using the latest technology, an integrated network of suppliers, and a custom UI/UX design, Milango is able to digitize every aspect of living spaces from residential properties to membership-driven clubs.

Circle was founded by Nancy Kamal and Essam Maged in 2020 to enable real estate and property management to streamline communication with tenants, handle their requests, and reduce operational costs.

The startup raised investment from 500 Startups MENA in May 2020 through the MISK500 accelerator program.

In addition, the startup was named “The Best Disruptive Startup” representing Egypt at the 4th Annual AfricArena Summit that was held in Cape Town, South Africa in March 2021.

 The North Africa region proptech sector has shown promising growth more recently as Egyptian prop-tech startup Nawy, is set to introduce in its catalog a mortgage service for used property.

The proptech sector has a big role to play in Egypt to provide affordable property and housing to the growing population.

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