Yakeey, a Moroccan proptech startup aiming to overhaul the country’s real estate market, is slated to receive up to $7 million as part of its Series A funding round from the International Finance Corporation (IFC), the private sector arm of the World Bank Group. The investment is intended to fuel the platform’s product development and solidify its presence in Morocco.

Launched in 2023 by Karim Beqqali, a veteran of the real estate sector and founder of Yamed Group, Yakeey operates a digital marketplace designed to streamline property transactions. The company positions itself as a “one-stop-shop” for buying, selling, and renting property, tackling what its founder identifies as the market’s primary obstacle: a deep-seated lack of trust.

“The major problem we identified was the patent lack of trust of actors towards each other,” Beqqali stated in a previous interview. Beqqali said the idea for Yakeey emerged during the Covid-19 pandemic, a period that brought the potential for digital solutions to simplify complex interactions to limelight. For many Moroccans, the process of transacting property is “experienced as long, complex, opaque, and stressful.”

Yakeey’s model aims to restore confidence by creating a transparent, end-to-end transactional ecosystem. The platform is not merely a listings site but a managed marketplace that integrates all stakeholders, from buyers and sellers to notaries and banks.

A Hybrid Model of Tech and Human Expertise

Yakeey’s approach combines a proprietary digital platform with a network of trained human advisors. Key features of the platform include:

• Data-Driven Valuations: An in-house algorithm provides real-time price estimations per square meter, offering a reliable benchmark for both sellers and buyers.
• Verified Listings: Every property listed on the platform is visited and certified by a Yakeey advisor to ensure its existence and conformity with the advertisement.
• Mandated Transactions: The company requires the systematic signing of mandates for listed properties, guaranteeing that the online inventory is reliable and current.

This digital infrastructure is supported by the “YakeeyPRO” community — a network of independent, exclusive real estate advisors. These professionals are trained by Yakeey to guide clients through every step of the transaction, from initial searches and scheduling visits to managing negotiations and finalizing paperwork.

“The key to trust is to support our clients from start to finish in their projects,” Beqqali noted. “We do this thanks to an innovative hybrid solution.”

The proposed $7 million equity investment from the IFC is aimed at providing more than just capital. According to the IFC, its involvement is both financial and non-financial.

Financially, the investment provides “patient capital” in a Moroccan venture landscape where access to funding remains limited. The IFC’s backing is expected to be critical for Yakeey’s long-term growth and its ability to attract future investment.

Non-financially, the IFC will assist Yakeey in strengthening its corporate governance. 

Beyond its technological innovation, Yakeey harbours a significant social ambition: to create jobs and professionalize the real estate agent profession in Morocco. The company provides its YakeeyPRO advisors with a comprehensive support system, including e-learning and in-person training, legal and administrative assistance, and marketing tools.

This model is designed to lower the barrier to entry for individuals looking to become entrepreneurs in the real estate sector. Yakeey has set an ambitious target to train and onboard 2,000 exclusive advisors across Morocco by the end of 2024.

While currently focused on the Moroccan market, Beqqali has confirmed that international expansion is part of the company’s long-term vision, with plans to enter countries with similar market characteristics.

The company’s business model is based on a success fee, taking a standard commission only upon the successful completion of a transaction. Listing a property, searching for a home, or using the platform’s estimation tools is free for all users. This, Beqqali argues, is proof of their commitment: “The fight for the Yakeey teams is the global and final success of our clients’ real estate projects.”

With this planned investment, Yakeey joins North Africa’s booming proptech market. In May this year, Egyptian proptech startup Nawy secured $52m in Series A funding, marking one of the largest single rounds in the country’s real estate technology sector to date. The equity round was led by Partech Africa, with backing from a diverse pool of global and regional investors including Nclude (by DPI), e& capital, Shorooq Partners, VentureSouq, Endeavor Catalyst, March Capital, Outliers VC, HOF Capital, Plug and Play, and Verod-Kepple Africa Ventures. The raise was accompanied by an additional $23m in debt financing from major Egyptian banks, bringing the total capital injection to $75m.