Tuesday, 20 April 2021

The secondary market for homes just got interesting to NBFS players — and to tech

Real estate startups Isqan.com and Qasatli have partnered up to provide installment plans to online homebuyers, Isqan said in a press release (pdf). The partnership will see the listings platform Isqan and home finance provider Qasatli offer plans of up to seven years for ready-to-move homes, signaling that the second housing market is becoming interesting to both tech and non-bank financial services players.

How will it work? Qasatli, a real estate consultancy that has contracts with developers including Porto Group, already offers tailored payment plans for homes through an online platform. It will make those home finance services available through Isqan’s platform, which is used by homebuyers eyeing existing properties listed on Isqan. Described by Isqan as the “first of its kind in the region, the program will apply to resale units – aiming to make the process quicker, easier and more accessible.”

Isqan raised a six-figure USD seed investment from Egygab Holding CEO Mohamed Gaballah earlier this year, to support its plans to “digitize the entire real estate industry in Egypt.” The company, which was founded in 2020, also said at the time that it was eyeing another financing round towards the end of this year to continue expanding and growing its product offerings.

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