Cairo-based community management software provider Milango, backed by A15, has acquired its local counterpart Circle, a 500 Startups-backed company for an undisclosed amount. This acquisition will help Milango increase its market share and further solidify its position as the premium community management solution in the region.
Milango is a Cairo-based startup that enables offline communities to offer different services to their residents and members through branded mobile apps. The startup raised a Seed round of $100 K in October 2020. Milango uses an integrated network of suppliers and a custom UI/UX design to digitize every aspect of the community.
“We have managed to exceed our initial usage expectations and established an engaged user base that is nearing EGP 100 Million in financial transactions with strong projected growth on that front for 2022. We are confident that with the acquisition of Circle and the addition of their premium clients to our portfolio, we are on the right track to bring #ASmarterLife to all communities.”
~ Amr Mostafa, CEO Milango
Circle is a mobile app that enables property managers to better engage with their tenants, handle their requests and reduce operational costs. Circle streamlines communication with clients and imitates sales office experience online making communication with overseas clients even easier.
“Circle success wouldn’t have been made possible without Nancy Kamal, my co-founder and her determined and ambitious mindset; the hard work of our team, and the support of our investors at 500 Startups. I strongly believe that the synergies this deal creates will shape a stronger proposition, that will serve millions of households across the region.”
~ Essam Maged, Co-Founder and CEO Circle
This acquisition will grow Milango’s contracted user base to well over 100,000 residential units and accelerate the startup’s growth in the community management category. This power partnership allows the two PropTech startups to explore further Tech opportunities as they consolidate their user-base and expand into neighbouring geographies and beyond.
