Riyadh – Sharikat Mubasher: Ayen, a real estate inspection company that offers residential inspection and consulting services, announced acquiring the Cairo-based construction technology (contech) startup Elmawkaa in a seven-figure deal.

This deal marks a significant step in Ayen’s growth and expansion process, paving the way for it to widen its range of services provided for its clients, according to a press release.

Ali Al-Mohsen, Founder & CEO of Ayen Platform asserted that the company doubled its growth rates 10 times during this year, revealing that Ayen seeks to launch a Pre-IPO funding round that aims to improve its services.

Through this acquisition deal, Al-Mohsen adds, Ayen is considering expansion into new markets, in collaboration with the talented team of Elmawkaa.

On this occasion, Ebrahem Anwar, the co-founder and CEO of Elmawkaa expressed his excitement and gratitude for Elmawkaa Team, and the group of angel investors who supported the company from the very beginning, including Flat6Labs, TIEC, Global 500, Hub71, Taqadam and others.