UAE’s PropTech Keyper Raises $6.5M in Seed Funding

UAE’s PropTech Keyper Raises $6.5M in Seed Funding

In a significant development in the property technology, Keyper, a UAE-based digital real estate investment management platform, has successfully secured $6.5 million in seed funding. The investment round was spearheaded by Access Bridge and Vivium Holdings, demonstrating the growing interest in the PropTech sector.

The funding initiative garnered attention from notable participants, including the prominent venture capital firm MEVP, renowned tech investor Jabbar Internet Group, key players within the real estate ecosystem, and a consortium of strategic angel investors, as reported by Wamda.

This influx of capital is earmarked to accelerate Keyper’s expansion and bolster its capabilities in rent facilitation and property management. The platform, founded in 2022 by Omar Abu Innab and Walid Shihabi, offers an innovative approach to property management, catering to both tenants and investors.

Keyper empowers tenants by allowing them to meticulously track expenses while providing investors with valuable insights into their real estate portfolios. The platform has already successfully onboarded more than 2,100 freehold residential units, collectively valued at over $1.22 billion, and has enticed 800 landlords since its inception.

One of Keyper’s standout offerings is the ‘Rent Now Pay Later’ product, enabling tenants to pay their rent in convenient monthly installments using credit cards. This initiative has generated over 5,900 applications, amounting to more than $104 million in annual rent demand.

Furthermore, Keyper has introduced ‘Upfront Rent,’ which benefits landlords by enabling them to receive the entire year’s rent in a single upfront payment, effectively mitigating default risks. The company also provides embedded property and tenant management services for the duration of the lease, ensuring a seamless, transparent, and data-driven real estate experience for all stakeholders.

Omar Abu Innab, Co-founder and CEO of Keyper, expressed enthusiasm, stating, “This seed funding significantly accelerates our growth trajectory, empowering us to deliver a seamless, transparent, and data-driven real estate experience for all stakeholders.” With this substantial financial backing, Keyper is well-positioned to make further strides in reshaping the real estate landscape in the UAE.