Dubai-based company Keyper secures $4 million in equity funding and $30 million through sukuk financing for its lease-now-pay-later platform.
Keyper Secures $4 Million in Funding for Rent-Now-Pay-Later Platform Expansion
Keyper, a Dubai-based rent-now-pay-later (RNPL) platform, has successfully raised $4 million in a pre-Series A round. The funds will be used to scale the platform's operations and expand its offerings in the real estate sector.
Keyper's unique product, Keyper Upfront, allows landlords to collect a year's rent upfront while tenants make monthly payments. This innovative solution not only alleviates cash flow strain for tenants but also provides landlords with real-time payment tracking and engagement incentives.
With over 3,000 residential units onboarded and facilitating over $1 million in annual rent, Keyper's platform is currently processing over $10 million in annual rental payments. The company's offering is currently available only in Dubai, but plans are underway to expand across the UAE and the wider MENA region.
Keyper was founded in 2022 by Omar Abu Innab and Walid Shihabi. The funding round was led by Beco Capital and Middle East Ventures Partners, with participation from existing investors Vivium Holdings, Jabbar Internet Group, and Signature Developers, as well as new investors Annex Investments, Pin Investment, and Al Qahtani Investment.
Omar Abu Innab, co-founder and CEO, stated that Keyper is transforming real estate interactions in the UAE. The company aims to further develop its PropTech platform to simplify real estate management for property owners, tenants, and partners. It plans to grow its offerings by enhancing portfolio management, providing market insights, and creating opportunities for partnership-based passive income.
In addition to the pre-Series A round, Keyper has also secured $30 million in Shariah-compliant sukuk financing from Franklin Templeton Investments. This funding will support Keyper's strategic partnerships, such as with Ellington Properties, and ensure agility in regulatory compliance.
With these funds in place, Keyper is well-positioned to revolutionize rent payment systems and tenant onboarding processes with a seamless, digital approach. The company's focus on user-centric innovation and regional growth is set to make a significant impact in the PropTech sector.
Read also:
- Global Gaming Company, LINEUP Games, Moves Into Extensive Global Web3 Multi-Platform Gaming Network
- "Tesla's dominance in the electric vehicle industry may be facing competition from a new player: Škoda, as the German electric car market undergoes transformation."
- Ford Presents Economical Electric Vehicle Strategy: Boasts a Lower Total Expense over a Five-Year Period than a Pre-owned Tesla Model Y from Three Years Ago
- Evaluating the sound and rational reasoning behind the latest Metal Gear Solid V game
