Ramallah-based real estate analytics platform Mashvisor has been chosen for the 19th round of acceleration at Silicon Valley’s 500 Startups, making it the first Palestinian startup to join the global venture fund.
The online platform automates and analyzes nationwide real estate data to empower investors to find traditional and short-term investment properties, and optimize their rental performance.
The startup says that it has developed interactive property and neighborhood insights that include analysis of traditional and Airbnb pricing, occupancy rates, seasonality and cost-flow trends.
As a participant in the program, the startup will receive advice from experienced mentors and hands-on support from the global 500 Startup community and network.
“Becoming part of 500 Startups is a great honor for us. Not only does it validate our hard work, but becoming part of this esteemed network will continue to open doors for us long after we finish the program,” Mashvisor co-founder Peter Abualzolof said.
“The program is overwhelming but educational, we’re gaining value daily. 500 Startups is delivering what they promised and preparing us to take advantage of their network,” Aboalzolof said.
Mashvisor was co-founded by Abualzolof and Mohammed Jebrini and received investment from the Ibtikar Fund in December 2015.
500 Startups is a global venture capital seed fund with over $275 million in committed capital. It began investing in early 2011, and has been known as a place for pre-revenue companies to get guidance and mentorship.
It invests small amounts of money in hundreds of young technology companies around the world. It has invested in nearly 1,600 technology startups since inception in 2010.
In December 2015, it unveiled a $30 million fund in the Middle East and North Africa, Bloomberg reported previously. Through the fund, it plans to make investments of about $75,000 each in early-stage companies in a region.
It has been active in the Arab world too. In September, 500 Startups signed a pact with Qatar Foundation (QF) to enhance innovation in the MENA region.Through the partnership, the two organizations will provide seed funding, training, and mentorship to startups across the region over the next five years.
In October, it took part in a $800,000 seed round in Dubai-based productivity startup Wrappup which was led by BECO Capital. And in July, it put an undisclosed amount as an investment in UAE-based online gift shop Joi.
Prior to that, in May, 500 Startups participated in a $4 million Series A round in ReserveOut, a Dubai-based online restaurant reservations platform.