Nocks application -which is specialized in real estate field- obtained funding from Microsoft international company in an unprecedented step, as it is considered the first real estate application.
This financing came through the largest international technology company after an accurate review of the model of “Nocks” as a technological tool that offers a new vision by offering cash back awards and incentives to clients on buying real estate unit they need.
Mahmoud Bekhit, Nocks company founder, said that this financing allows the company to expand the entry of new technologies to the business model that proved it’s success, along 3 months since it’s launching.
Bekhit added that Nocks is the first application specialized in buying high-end real estate and luxury villas directly from the real estate developer without intermediaries, referring to contracting with major real estate developers in Egypt, as well as major well-known brands’ owners in the Egyptian and international market.
He pointed that Nocks application keens to achieve the highest standards of privacy for clients, as it is a closed application, and subscription to it is via obtaining a direct invitation from one of the registered users, so that the client can then download and use the application, noting that the main goal is to maintain clients data.
Amr Ramadan, Nocks Technology Sector director, assured that Microsoft company evaluated all the details of the work within Nocks on the technological level as well as at the business model level itself, and the company seeks to obtain more funding, to help it to launch into the Egyptian and Arab markets.
Nocks is regarded the first real estate application in Egypt that gives the buyer a discount percentage on the property in the form of points, which are added to the user’s electronic wallet once the property purchase process is done, and the client will be able to use it to purchase a variety of commodities through a group of companies with well-known brands, contracting with the application in the fields of communication, technology, furniture, luxury cars and jewelery.