Keyper, a UAE-based property technology (proptech) firm, has disclosed a pre-Series A funding round of $4M in equity.
The investment was spearheaded by BECO Capital and Middle East Venture Partners (MEVP), with contributions from existing backers Vivium Holding, Jabbar Group, Signature Developers, and fresh investors Annex Investments, Pin Investment, Al Qahtani Investment, alongside other strategic angels.
Additionally, Keyper has inked a term sheet arrangement for an extra $30M in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd, elevating its total raised capital to over $40M.
The company aims to allocate the funds towards digitalizing the rental process in the UAE and expanding its pioneering Rent Now Pay Later (RNPL) solution.
The Sukuk proceeds will empower landlords to receive yearly rents upfront and provide tenants with the flexibility to settle rent in monthly instalments via credit/debit cards and alternative digital payment methods.
Keyper Revolutionizes Real Estate Interactions in the UAE with Innovative Property Management Solutions
Omar Abu Innab, Co-Founder and CEO of Keyper, stated, “Keyper is reshaping the real estate interaction landscape in the UAE. For landlords, we provide a convenient property ownership experience through our property management app and innovative financial services, like granting landlords access to their entire portfolio rental income at any lease point. For tenants, they can enjoy a fully digital rent payment experience, managing their tenancy without the need for outdated bank checks.”
In 2024, Keyper reached significant milestones, including onboarding over 3,000 residential units valued at $2B processing more than $10M in annual rent payments, and facilitating over $1M in annual rent via its RNPL offering.
Dany Farha, Co-Founder and CEO of BECO Capital, expressed excitement in supporting a robust team with broad and profound expertise at the intersection of real estate and finance, innovating in the global prop-tech sector, and striving to provide a transformational value proposition to customers efficiently and profitably.
Keyper’s agenda includes disrupting real estate with state-of-the-art financial and rental solutions, streamlining rent processing and payments, and extending its services to Abu Dhabi.
The company is forging partnerships in fintech, payments, tenant screening, and strengthening data collaborations with real estate entities and regulators.
Mohieddine Kronfol, CIO of Global Sukuk and MENA Fixed Income at Franklin Templeton, expressed delight in leading Keyper’s innovative multi-tranche sukuk to fund its RNPL service, underlining the compelling opportunities their private credit team sees across the region.
