Morocco’s Proptech Agenz raises $1.3M pre-Series A

Agenz, a Moroccan startup specializing in online real estate evaluation, has successfully raised MAD13 million ($1.3 million) in a pre-Series A financing round. Notable investors, including Azur Innovation Fund, Maroc Numeric Fund II, and international investment fund Beenok.

Established in 2021 by Malik and Badr Belkeziz, Agenz swiftly emerged as the first online real estate estimation platform in Morocco. Utilizing innovative artificial intelligence technology, supported by a robust database and analyzed market data, Agenz has become a trusted resource for property buyers and sellers across the country. Their platform, agenz.ma, offers a comprehensive real estate experience encompassing estimation services, curated property listings, and access to real estate credit.

This significant investment will enable Agenz to accelerate its growth and drive transformation within the Moroccan real estate sector. They plan to enhance their service offerings, making real estate transactions more accessible and efficient for all parties involved.

Investors were drawn to Agenz for several reasons. As the pioneering online real estate estimation platform in Morocco, Agenz holds a unique position in the market. The innovative use of artificial intelligence on their platform signals the potential for disrupting the real estate sector.

Furthermore, Agenz's rapid growth and strong market traction instilled confidence in investors. With over 150,000 monthly users and generating 5,000 new property estimations per month, Agenz has demonstrated its appeal to a wide range of customers in the Moroccan real estate market. Investors view this success as a strong indication of Agenz's ability to capture a significant market share and ensure long-term sustainability. The platform's accurate online estimations, boasting a mere 5% margin of error, have also fostered trust among users and further inspired investor confidence.

The presence of founders Malik and Badr Belkeziz, with their established track record in the real estate and technology sectors, significantly influenced investor decisions. The founders' expertise and commitment to building a comprehensive real estate database, combined with strategic partnerships, provided reassurance to investors regarding the company's ability to execute its ambitious goals.

Agenz's strategic partnerships with real estate agencies, developers, and major Moroccan banks have bolstered its credibility and market reach. These alliances position Agenz to offer users a comprehensive real estate experience, including a wide selection of properties and simplified access to financing. The aim is to create smoother buying and selling processes, cater to the middle class, foster inclusive growth, and expand the Moroccan real estate market. Agenz's commitment to transparency and their ambitious goal of facilitating property ownership and sales within a maximum timeframe of 10 days have resonated with investors, further highlighting their potential impact on the local real estate market.

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Source:  AfrikanHeroes