Agenz, a Moroccan firm that focuses on digital real estate evaluation, has successfully completed a pre-Series A investment round, bringing in a total of $1.3 million.
This investment will assist the real estate technology firm in accelerating its growth, which in turn will help alter the real estate sector within the country by making property transactions easier for all parties involved.
The funding round was participated in by a variety of different funds, including Azur Innovation Fund, Maroc Numeric Fund II, and Beenok, which is an international investment fund. Agenz has expressed their gratitude to the investor for their desire to support the company’s mission, which they commented on when discussing the big investment.
“The funds, one of the largest ever for a Moroccan start-up, testifies to investors’ confidence in the company’s vision and its ability to transform the real estate market.”
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When Agenz was created
Agenz was the first online property appraisal platform in Morocco, having been established in 2021 by the brother-and-sister team of Malik and Badr Belkeziz.
One of the reasons why investors gave it support in the investment round was because it was the first firm in that vertical, making it a pioneer in the industry. It is important to note that Agenz positioned itself as a company that was destined to cause a disruption in the industry by utilising cutting-edge technologies such as artificial intelligence (AI).
Malik and Badr Belkeziz’s strong track record in the real estate and technology verticals played a significant role in drawing the interest of potential investors, much as it did for the founders of the Egypt-based company Masroofi.
Their level of competence was difficult to discount. In addition to possessing a substantial amount of knowledge in their various industries, the investors were impressed by the fact that the Belkeziz brothers had engaged into many partnerships with almost a thousand different real estate developers.
In addition, the fact that the business already had partnerships with some of the most prominent Moroccan institutions helped to make it more reliable. In addition to offering technology-driven estimating services to prospective property owners, the Agenz platform also provides property listings and a real estate credit facility.
Remarks from the CEO
After the latest investment, the company’s CEO and co-founder, Malik Belkeziz, provided some insight into the next stages the startup will take. According to him, Agenz would make an effort to shorten the amount of time needed to bring real estate transactions to a successful conclusion.
“Our aim from 2024 is to enable those who wish to do so, to access home ownership or sell their property within a maximum of 10 days, real estate financing included,” he said.
Even though this is the largest amount of financing that Agenz has ever received, it has received funding in the past. In 2021, Azur Innovation Partners participated in a Seed round and contributed 540,000 dollars to the company.
It put that money towards research and development, sometimes known as R&D, in order to speed up the distribution of its services across the nation.
