Circle, founded in 2020 by Nancy Kamal and Essam Maged and backed by 500 Global, makes it easy for real estate developers and property owners to connect with tenants.
Milango, on the other hand, was founded by Amr Mostafa in 2021 and provides business clients with a suite of community management tools to help them digitize. A15 is the source of funding.
Milango has increased its market share by acquiring Circle. The acquisition will be used to help the firm accelerate its expansion in the community management space.
“I’m very proud of the work Milango’s team has done over the past 18 months. We have managed to exceed our initial usage expectations and established an engaged user base that are nearing EGP100 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,” said Amr Mostafa, Milango’s CEO.
“I strongly believe that the synergies this deal creates will shape a stronger proposition, that will serve millions of households across the region,” said Circle CEO Essam Maged.