Leading UAE PropTech company Keyper has successfully raised $4 million in a pre-series A equity round. This round was spearheaded by top regional venture capital firms BECO Capital and Middle East Venture Partners (MEVP), with contributions from existing investors Vivium Holding, Jabbar Group, Signature Developers, and new investors Annex Investments, Pin Investment, and Al Qahtani Investment, among other strategic angels.
Additionally, Keyper has signed a term sheet agreement for $30 million in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd. This brings Keyper’s total capital raised to over $40 million. The funds will be utilized to digitize the rental experience in the UAE and expand Keyper’s innovative Rent Now, Pay Later (RNPL) solution. The Sukuk proceeds will allow landlords to receive annual rents upfront while offering tenants the flexibility of paying rent in monthly installments via credit/debit cards and other digital payment methods.
Keyper’s Co-Founder and CEO, Omar Abu Innab, commented, “Keyper is transforming real estate interactions in the UAE. Our property management application and innovative financial services provide landlords with convenient property ownership experiences. Tenants benefit from a fully digital monthly rent payment system, eliminating the need for upfront payments via outdated bank checks.”
In 2024, Keyper reached significant milestones, including onboarding over 3,000 residential units worth $2 billion, processing more than $10 million in annual rent payments, and facilitating over $1 million in annual rent through its RNPL product. Keyper has introduced features like “similar transactions,” enabling landlords to monitor market sales and rental transactions relevant to their portfolios.
Dany Farha, Co-Founder and CEO of BECO Capital, stated, “We are excited to support a strong team with diverse and deep domain expertise in real estate and finance. Keyper’s innovative approach in the prop-tech sector aligns perfectly with our investment thesis on prop-tech and embedded finance.”
Mohieddine Kronfol, CIO of Global Sukuk and MENA Fixed Income at Franklin Templeton, added, “We are pleased to lead Keyper’s innovative multi-tranche sukuk to fund its RNPL service. This transaction highlights the exciting opportunities our private credit team sees in the region.”
Looking ahead, Keyper aims to further disrupt the real estate sector with advanced financial and rental solutions to make rent processing seamless, flexible, and digital. The company plans to expand its services to Abu Dhabi and strengthen partnerships in fintech, payments, tenant screening, and data collaborations with real estate entities and regulators.
Keyper’s ongoing commitment to innovating the rental process continues to impact both landlords and tenants, solidifying its position as a leader in the real estate sector.
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.
By Proptechbuzz
By Ravi Kumar
