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Milango acquires proptech startup Circle

Wamda

Source: WAYA

Milango, community management software provider, backed by A15, has acquired local rival Circle, a 500 Startups-backed company. The acquisition will help Milango increase its market share and further solidify its position as the premium community management solution in the region.

The acquisition grows Milango’s contracted user base to more than 100,000 residential units and the startup aims to leverage the acquisition to accelerate its growth in the community management category.

“I’m very proud of the work Milango’s team has done over the past 18 months. We have managed to exceed our initial usage expectations and established an engaged user base that are nearing EGP 100 Million in financial transactions with strong projected growth on that front for 2022. We are confident that with the acquisition of Circle and the addition of their premium clients to our portfolio, we are on the right track to bring #ASmarterLife to all communities,” Amr Mostafa, Milango’s CEO, said.

Circle was founded by Nancy Kamal and Essam Maged in 2020. The platform enables real estate and property management to streamline communication with tenants, handle their requests, and reduce operational costs. Circle raised investment from 500 Startups MENA in May 2020 through the MISK500 accelerator program. Furthermore, Circle was named “The Best Disruptive Startup” representing Egypt at the 4th Annual AfricArena Summit that was held in Cape Town, South Africa in March 2021.

“Circle success wouldn’t have been made possible without Nancy Kamal, my co-founder and her determined and ambitious mindset; the hard work of our team, and the support of our investors at 500 Startups. I strongly believe that the synergies this deal creates will shape a stronger proposition, that will serve millions of households across the region,” Essam Maged, Circle’s CEO, said.

February 28th 2022, 3:49 am
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