Dubai-based Marrfa, the proptech venture co-founded by Jamil Ahmad, a former Fashinza executive, has successfully raised an undisclosed amount in a pre-seed funding round. The funding was led by Berlin-based VC firm Foundamental, with participation from Prashant Malik, General Partner at US-based Tykhe Block Ventures.
Ahmad, now at the helm of Marrfa, disclosed that the capital infusion will be instrumental in driving expansion plans across the UAE, Singapore, and Europe, fostering technological innovation, and acquiring talent in the regions where the startup operates.
Marrfa positions itself as a comprehensive, managed real estate marketplace, striving to democratize access to high-yield real estate investment opportunities on a global scale. The platform aims to empower retail investors by providing exhaustive information on lucrative real estate prospects, enabling them to make well-informed decisions in the unstructured cross-border investments market.
Ahmad emphasized Marrfa’s mission, stating, “We are dedicated to ensuring that high-yield investments become accessible to all, addressing the intricate challenges of the $270 Bn unstructured cross-border real estate market.” The startup intends to establish a robust network of agents and introduce a discovery platform connecting foreign investors with loans from Gulf Cooperation Council (GCC) countries.
Leveraging his experience from Fashinza, Ahmad aims to streamline cross-border investment flows in the real estate sector. It is worth noting that Ahmad stepped down from his role as co-founder and Chief Business Officer of Fashinza in January of this year after a nearly four-year tenure. Earlier this month, Inc42 reported on the launch of his new startup, initially focused on India and the UAE but with plans for expansion into Singapore and Europe within the next two years.
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By Proptechbuzz
By Ravi Kumar
