EGYPT – Milango, a community management software provider, backed by A15, has acquired local rival Circle, a 500 Startups-backed company.
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.
The startup raised investment from 500 Startups MENA in May 2020 through the MISK500 accelerator program.
The proptech sector has a big role to play in Egypt to provide affordable property and housing to the growing population.