Morocco’s proptech, Agenz has secured $1.3 million in a pre-Series A financing round from Azur Innovation Fund , Maroc Numeric Fund II, and Beenok.
Agenz was founded in 2021 by Malik and Badr Belkeziz and rose to prominence as Morocco’s first internet platform for real estate appraisal. The firm has established itself as a resource for real estate buyers and sellers throughout Morocco thanks to its creative use of artificial intelligence for accurate calculations, supported by a strong database and analysed market data. The portal of Agenz, agenz.ma, provides a whole real estate experience, including estimating services, carefully selected property listings, and access to real estate loans.
The funding will help Agenz to accelerate its growth and revolutionise the real estate industry in Morocco by improving its service offerings and making real estate transactions more accessible and effective for all stakeholders.
Investors supported the firm for several factors. Agenz is a market pioneer because it was Morocco’s first internet platform for real estate evaluation. Their platform’s cutting-edge design and usage of artificial intelligence point to the possibility of considerable industry disruption in the real estate market.
Also, Agenz’s explosive expansion and market traction also significantly contributed to the investors’ growing confidence. The firm has demonstrated its attractiveness to a wide variety of customers in the Moroccan real estate industry with over 150,000 monthly users and 5,000 new property estimations made each month. Investors see this track record of success as a good sign for Agenz’s capacity to gain a sizable market share and sustain itself over the long term. Additionally, the accuracy of their online estimates, which have a margin of error of just 5%, has increased user confidence in Agenz’s services as well as investor confidence.
The founders’ experience in the IT and real estate industries—Malik and Badr Belkeziz—significantly influenced the investors’ choices. The competence of the Belkeziz brothers and their dedication to creating a comprehensive real estate database, along with their strategic alliances, gave investors confidence that the business would be able to achieve its lofty objectives.
Agenz’s credibility and market reach have been further increased by strategic alliances with a network of about 1,000 real estate firms and developers, as well as long-standing agreements with important Moroccan banks. These alliances put Agenz in a position to provide its users with a whole real estate experience, including a broad selection of homes across Morocco and streamlined access to real estate financing. The possibility of a simpler purchasing and selling procedure, particularly one that serves the requirements of the middle class, is consistent with investors’ goals of promoting inclusive growth and enlarging the real estate market. Investors have also taken note of Agenz’s dedication to openness and its bold objective of facilitating property ownership and transactions within a maximum period of 10 days, particularly considering the possible impact on the Moroccan real estate market.
