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Aqar Exit, an Egyptian proptech startup, has raised $200k from businessman Ayman Mamdouh Abbas, executive chairman of Intro Holding Group. As a result, he receives a 10% stake in the company.
The deal values Aqar Exit at about $2 million post-money. Founder and chairman Mahmoud Ammar disclosed the investment in an interview with Al Arabiya Business.
The investment follows the startup’s appearance on the fifth season of Shark Tank Egypt, where it presented its business to investors.
Founded in 2026, Aqar Exit runs a platform where people who can no longer afford the instalments on a property can transfer their purchase contract to a new buyer.
The process for using the platform is straightforward, ensuring support throughout each stage with the assistance of a case manager.
For owners, the journey begins with an assessment of their contract. Users input their contract details to evaluate their situation, which automatically creates an account upon submission.
Next, they need to upload relevant documents, including the contract and payment receipts, which will be reviewed and verified. Following this, the platform verifies the figures against the provided documents to create a verified offer for potential buyers.
The team then seeks out buyers who are genuinely capable of taking over the purchase. Finally, support is provided through the steps required for the contract transfer until payment is received.
For buyers, the journey starts by specifying their budget, which includes available cash and a comfortable installment amount. This request also leads to automatic account creation.
Buyers can then view verified opportunities that feature complete and transparent figures. They can submit a formal offer that outlines clear terms and includes all necessary financial details.
Once the offer is accepted, the reservation is confirmed, and all steps are documented, with payment managed through official transfer procedures. The buyer ultimately receives an officially approved contract from the developer.
For sellers, there are no associated costs. Buyers are responsible for a fee of 1.25% of the contract value, applicable only when the assignment is successfully completed. If the transfer does not occur, no fees are incurred. Both the contract assessment and the Exit Report are provided at no charge.
While estimates are based on actual documents, the platform does not guarantee a fixed selling timeframe or a specific recovery percentage, as outcomes are influenced by individual contracts, developer approval, and market conditions.
Aqar Exit reports $181 million in closed listings across 638 transactions since launch, including 404 in its latest reported month, up from 233 the month before.
The company counts any listing removed from the platform as closed, so the figures do not necessarily show completed sales or revenue for Aqar Exit.
The platform has registered 14,845 property assignment files from 11,833 sellers, and 67,013 purchase requests from 32,870 prospective buyers. Average daily purchase requests rose 58% to 1,060, from 671 in the previous period, according to the company.
Aqar Exit will use the funds to build new products and expand abroad, with a focus on the Gulf. The company plans to raise about $5 million in 2027 from Egyptian and international investors, businesspeople and funds to support product development and regional growth.
