Milango, community management platform acquires Egyptian prop-tech startup, Circle
Circle, founded in 2020 by Nancy Kamal and Essam Maged and sponsored by 500 Global, makes it easy for real estate developers and property owners to interact with tenants. Milango, on the other hand, was founded by Amr Mostafa in 2021 and provides business clients with a suite of community management solutions to help them digitize. A15 is the source of funding.
Milango has increased its market share by acquiring Circle. The transaction will be used to help the firm accelerate its expansion in the community management space.
“I’m extremely happy with Milango’s team’s work over the last 18 months.” We’ve surpassed our early usage goals and built a loyal user community that’s approaching EGP100 million in financial transactions, with high growth forecasted for 2022. “With the acquisition of Circle and the inclusion of their premium clientele to our portfolio, we are sure that we are on the right track to provide #ASmarterLife to all communities,” stated Milango CEO Amr Mostafa.
“I am confident that the synergies created by this merger will result in a stronger proposition that will benefit millions of homes across the area,” Circle CEO Essam Maged said.
