UAE Proptech company Keyper, announces a pre-series A capital raise of US$4 million in equity.
This round was led by top regional venture capital firms BECO Capital and Middle East Venture Partners (MEVP), with participation from existing investors; Vivium Holding, Jabbar Group, Signature Developers, and new investors; Annex Investments, Pin Investment, Al Qahtani Investment, among other strategic angels.
The company also signed a term sheet agreement for an additional US$30 million in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd bringing its cumulative capital raised to-date to over US$40 million.
Keyper will invest the fresh funds into digitizing the rental experience in the UAE and scaling its innovative Rent Now Pay Later (RNPL) solution. The Sukuk proceeds will enable Landlords to receive annual rents upfront and offer Tenants the flexibility of paying rent in monthly instalments via credit/debit cards and other convenient digital payment methods.
Omar Abu Innab, Co-Founder and CEO of Keyper, expressed,
“Keyper is transforming what it means to interact with real estate in the UAE. For Landlords, we offer a convenient property ownership experience, thanks to our property management application and innovative financial services, such as giving Landlords the ability to access their entire portfolio rental income at any point during the lease. For Tenants, they can have a fully digital experience to pay their rent monthly and manage their tenancy, eradicating the need for upfront payments via outdated bank checks.”
As to what’s next, Keyper plans to further disrupt real estate with financial & rental solutions, to make rent processing and payments seamless, flexible, and digital, and expand its services to Abu Dhabi. The company is also advancing partnerships in fintech, payments, tenant screening, and strengthening data collaborations with real estate entities and regulators.
Featured image credit: edited from freepik
