Boyot, an Egyptian-based startup that provides an end-to-end operating system for payments and financial services focused solely on the real estate market has announced a partnership with the Misr Real Estate Assets Management Company to collect rents and pay all utilities including water, electricity, gas, and internet electronically.
Mahmoud El Sabongy, Khaled El Refaay, and Mohamed Sayed founded the cloud property management solution provider in 2020. Boyot is an Egyptian-based cloud-based property and rent management solution startup and has signed partnerships with a group of banks including the National Bank of Egypt, Credit Agricole, and Fawry. In June, the startup also closed a six-figure pre-seed round from a Kuwait-based real estate firm to expand its operations to Kuwait and grow its team.
Speaking on the partnership, Basel El-Hini, Chairman of Misr Insurance Holding Company, said “The group plays a key role in supporting various investment activities, especially in promising sectors that open new horizons and offer opportunities for startups to help them achieve success and realize their economic ambitions. Our group sponsored the Forsa program, and through it, we have met many promising Egyptian young people that have ambitions in the fields of technology and innovation.”
Boyot participated in Lamis El Hadidi’s El Forsa TV program which is a competition that allows startups to pitch their ideas in front of investors and business leaders. Boyot met representatives from Mirs Insurance Holding and Misr Real Estate Assets Management through the program and was able to secure this partnership.
Mahmoud El-Sabongy, Boyot’s Co-founder and CEO, on his part said “We thank El Forsa program because this opportunity was a huge opportunity for the company and has opened many doors for collaboration. We are currently in the process of finalizing our expansion plan to Kuwait by the end of 2022 followed by Turkey.”