General Catalyst Backs PRYPCO in UAE Property Tech Surge

General Catalyst has led a Pre-Series A funding round in PRYPCO, marking its first investment in a proptech venture in the Middle East. PRYPCO, a UAE-based property technology startup, has so far facilitated over AED 10 billion in mortgages, helped more than 3,000 people obtain UAE Golden Visas, and attracted upwards of 50,000 users to its platforms.

PRYPCO was founded in 2022 by Amira Sajwani, who previously held senior roles in major real estate firms. Under her leadership, the company has developed several interlinked services: fractional ownership through PRYPCO Blocks, property investment tokenisation via PRYPCO Mint, mortgage facilitation, Golden Visa support, and digital tools for agents. Its collaboration with the Dubai Land Department has enabled tokenised title deeds, making Mint the first platform in the region to operate in that capacity.

The partnership with General Catalyst is being framed as a validation of PRYPCO’s vision to democratise property ownership in the region, reducing typical entry barriers such as large capital requirements, bureaucratic delays, and geographical constraints. Amira Sajwani is quoted emphasising the company’s mission to make property ownership accessible beyond wealthy investors or those with deep local connections.

Data shared shows PRYPCO has engaged with 18 major banks to process mortgages, enabled full funding for 21 properties through fractional ownership, and secured early investment participation in PRYPCO Mint with amounts as low as AED 2,000.

General Catalyst has pointed out that growth in real estate investment transactions in the UAE has ballooned from roughly USD 20 billion in 2020 to over USD 200 billion by 2024. It highlights escalating interest from international retail and ultra-high-net-worth investors seeking more flexible, technology-enabled entry points into property investment. PRYPCO aims to meet this demand by combining traditional real estate mechanisms with newer models such as fractional ownership and tokenisation.

The funding will be used to expand PRYPCO’s product suite, deepen regulatory partnerships, and scale across the Middle East. There is strong focus on tools for real estate agents as well: PRYPCO One, a platform for agents, offers access to exclusive properties, data on projects, website tools, and commissions via referrals for mortgage and Golden Visa clients.

Critics note that though tokenisation and fractional ownership offer promise, regulatory clarity and investor protections remain evolving areas. Property title tokenisation depends heavily on government cooperation and legal enforcement of digital records. PRYPCO’s partnership with the Dubai Land Department is a step toward that, but scaling similar models elsewhere in the region may confront different regulatory landscapes. Market volatility, property sector risk, and currency fluctuations also pose challenges for investors using newer financial-technology vehicles.