Saudi proptech startup Aamar has raised more than $4 million in a Seed funding round, with backing from Aqar App, Razm Investment, Al Majdiah Investment, Blom Invest, and a group of angel investors.
Founded in late 2023 by Faisal Alarfaj, Abdulaziz Alyabis, and Yousef Qanaq, the company is building a digital platform focused on automating leasing and asset-finance workflows. The product is designed to reduce manual coordination while simplifying rental processes for both individuals and businesses.
Aamar’s platform uses AI to manage the rental journey from onboarding to execution. In addition, it integrates with real estate platforms and relevant regulatory entities to streamline communication between landlords, tenants, and service providers.
As a result, the company aims to bring more structure and transparency to a market that still relies heavily on fragmented and manual processes. According to the company, the platform has already served over 10,000 customers and supported rental transactions exceeding SAR 150 million in value.
The newly raised funds will be directed toward product development and the expansion of Aamar’s AI-powered leasing and asset-finance services. Most importantly, the company plans to scale its operations beyond Riyadh into other regions across Saudi Arabia.
Besides geographic growth, Aamar is also developing additional proptech solutions to improve efficiency and user experience across the rental lifecycle.
Commenting on the funding, Faisal Alarfaj, Co-Founder and CEO of Aamar, noted that the Saudi rental market is growing rapidly, creating demand for digital tools that improve service quality and operational efficiency. He added that the capital will help the company scale its platform and address broader opportunities in the sector.
Ibrahim AshShohail, CEO of Aqar App, said Aamar is addressing a core challenge in the rental market by replacing disconnected manual processes with a more structured and automated system that benefits both landlords and tenants.
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