Deal App
A licensed platform based on real estate demand rather than searching for a property.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor | €0.0 | round |
* | $2.2m | Seed | |
| Total Funding | 000k | ||
| USD | 2022 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Deal App is a proptech company operating in the Saudi Arabian real estate market, founded in 2019 by Salah Alswidan, Abdullah Al Abbad, and Mohamed Al Shalan. The company's platform reverses the traditional property search model. Instead of browsing listings, users—both those looking to buy and those looking to rent—submit a detailed request for the property they are seeking. This request is then sent directly to a network of real estate brokers active in the user's desired neighborhoods.
The platform serves two main client types: property seekers and real estate agents/brokers. For property seekers, it aims to reduce the time and effort spent searching for a suitable property. For real estate professionals, it provides a channel of qualified leads, allowing them to market their properties directly to interested clients. The platform facilitates direct communication between the parties through in-app chat, phone calls, or WhatsApp. A key feature for brokers is the "real estate application map," which visually displays property requests across city neighborhoods, helping them to efficiently track and respond to opportunities. Clients looking for property can pay a nominal fee to mark their request as "serious," increasing its visibility to brokers.
Deal App has shown significant traction, having processed over 100,000 real estate requests with a network of over 20,000 agents across more than 100 cities in Saudi Arabia as of early 2022. In February 2022, the company announced a pre-Series A funding round of $2.24 million (8.4 million SAR). The round saw participation from institutional investors such as Alsoliman Real Estate, Wallan Group, Salem Balhamer Real Estate, AlThuraya AlOmrania Properties, and Kenaya, alongside several angel investors. The stated goal for this capital infusion was to expand the company's service offerings and pursue geographic expansion into other Gulf countries.
Keywords: proptech, real estate platform, Saudi Arabia real estate, property search, real estate brokers, lead generation, property technology, rent, buy, real estate investment, Deal App, Salah Alswidan, Abdullah Al Abbad, Mohamed Al Shalan, real estate marketplace, property requests, agent tools, Riyadh, real estate map, pre-Series A