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Agenz, a Moroccan proptech startup that digitises real estate transactions, has raised $5 million to support product development and strengthen its investments in artificial intelligence.
The funding round saw participation from Breega, a European venture capital firm, Attijariwafa Ventures, and Saviu Ventures, an Africa-focused growth capital fund.
The raise comes three years after Agenz’s $1.3 million pre-Series A financing round as activity in Morocco’s property market picks up. Residential land transactions surpassed 140,000 in 2023, an increase from 2022, according to a World Bank document, highlighting the opportunity for digital platforms that simplify property transactions for users.
“We believe the future of real estate will be built on the responsible use of data and artificial intelligence,” said Malik Belkeziz, Co-founder and CEO of Agenz. “Our ambition is to leverage technology to create a more transparent, secure and accessible market, while keeping user trust at the centre of everything we do. This funding will allow us to accelerate this vision for the benefit of the entire Moroccan real estate ecosystem.”
