Egypt's Co-Living Platform Roomz.rent Secures Pre-Seed Funding Led by Qora71
Roomz.rent, Egypt's first co-living platform, has successfully closed its pre-seed funding round. The investment was led by Qora71, a Hub71-based angel investor syndicate, with participation from other regional angel investors. The capital will be used to solidify the company's presence in Cairo and fuel its expansion across the MENA region.
By the Numbers
$100,000+: Value of contracts sold in under five months since launch.
9 months: The average stay per rental contract.
2024: Year the company was founded in Cairo.
A New Standard for Urban Living in MENA
Founded in 2024 by Mohamed Ayman (CEO), Yasser El Sarrag (CPO), and Ahmed Mandour (COO), Roomz.rent is tackling the challenges of urban renting. The platform provides smart, flexible, and hassle-free long-term rentals (starting from 3 months) in fully managed accommodations. A key feature is its AI-powered flatmate matching service, which helps tenants find compatible roommates, solving a major pain point in shared living situations.
Strong Early Traction and Investor Confidence
Despite being on the market for only a few months since its November 2024 launch, Roomz.rent has demonstrated impressive early traction, processing over $100,000 in contracts. This performance drew praise from investors. Youssef Salem, Director at Qora71, commented, "Roomz.rent is tackling one of the biggest and most broken categories in MENA: urban rentals... In just months, they've shown traction and discipline we usually see at a later stage than pre-seed.”
The Vision for Regional Expansion
The new funding will be used to consolidate Roomz.rent's leadership position in the Cairo market before embarking on a strategic, city-by-city expansion across the MENA region. CEO Mohamed Ayman stated, "We're aiming to make city living more accessible to everyone. Roomz.rent creates a new standard of urban living, one where flexibility, community, and affordability come built-in. Cairo is just the beginning.”
About Roomz.rent
Roomz.rent is an Egyptian proptech company that has launched the MENA region's first dedicated co-living platform. It provides a tech-enabled solution for flexible, long-term rentals with managed accommodations and AI-powered flatmate matching to create a better urban living experience.
About Qora71
Qora71 is an angel investor syndicate based in Abu Dhabi's Hub71 global tech ecosystem. The group focuses on investing in and supporting promising early-stage technology startups across the Middle East and North Africa.
Looking Ahead: Solving a Regional Problem
The success of Roomz.rent highlights a significant, unaddressed need for flexible and community-oriented housing solutions for young professionals, students, and expats in the region's major urban centers. With its new funding and proven model, Roomz.rent is well-positioned to lead and define the emerging co-living category across the Middle East.
Source: Jawlah