Egypt-based community management solution provider Milango, on Tuesday, 6 October 2020, announced that it has raised an undisclosed six-figure sum in a seed funding round led by A15 and strategic angel investors.
The startup is planning to utilise the fresh funds to further expand its services to the real estate sector and enhance its product offering to beckon more developer partners. The startup’s top partners include Orascom Development Holding, EMAAR, Sodic, Almaza Bay, and Hyde Parks, among others.
Founded in February 2020, Milango is a community management platform for gated communities. It provides its business clients with a wide range of community management tools that help them empower their businesses online. It further looks to provide all users with a cashless environment, access control, facility management, even yacht docking, and more.
Speaking of the development for Milango, Amr Mostafa, the newly appointed CEO for Milango, in a statement, said,
“With the support of our partners and A15’s strong technology ecosystem value they add to the equation, I am confident that Milango is on the right path to bringing the smart city of the future closer to today. For us, the current climate helped. The pandemic fast-tracked digital transformation across all sectors and lucky for us, we had a product that was already digitally enabling the daily lives of thousands of people across Egypt, so it was the right timing as people began to really see the need and value of our product.”
Affirming their confidence in Milango, Fadi Antaki, A15’s chairman, said,
“We invested in Milango because it makes sense due to the gap it is filling in the market as in digitally transforming communities whether compounds or clubs by making the experience served to its residents and members more seamless, appealing and meaningful,”