Keyper, a leading prop-tech company in the UAE, has announced a successful pre-series A capital raise of $4 million in equity. The round was spearheaded by prominent regional venture capital firms BECO Capital and Middle East Venture Partners (MEVP), with additional backing from existing investors Vivium Holding, Jabbar Group, Signature Developers, and new investors including Annex Investments, Pin Investment, Al Qahtani Investment, among other strategic angels.
In a significant move to bolster its financial capabilities, Keyper has also secured a term sheet agreement for an additional $30 million in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd. This financing brings the company’s total capital raised to over $40 million.
Keyper plans to utilize the new funds to digitize the rental experience in the UAE and expand its innovative Rent Now Pay Later (RNPL) solution.
The Sukuk proceeds will enable landlords to receive annual rents upfront while offering tenants the flexibility of paying rent in monthly installments through various digital payment methods, including credit/debit cards.
Omar Abu Innab, Co-Founder and CEO of Keyper, highlighted the transformative potential of the company’s services: “Keyper is revolutionizing real estate interactions in the UAE.
Our property management application and innovative financial services provide landlords with convenient property ownership experiences, including accessing rental income at any point during the lease. For tenants, our fully digital platform allows for monthly rent payments, eliminating the need for upfront payments via outdated bank checks.”
Keyper has achieved impressive milestones in 2024, onboarding more than 3,000 residential units worth $2 billion, processing over $10 million in annual rent payments, and facilitating over $1 million annually through its RNPL product.
The company has also introduced new features like “similar transactions,” which enable landlords to monitor market sales and rental transactions relevant to their portfolios.
Dany Farha, Co-Founder and CEO of BECO Capital, expressed enthusiasm for the investment: “We are thrilled to support a strong team with deep expertise at the intersection of real estate and finance.
Keyper’s innovative approach aligns perfectly with our thesis on prop-tech and embedded finance, offering a transformational value proposition to its customers in an efficient and profitable manner.”
Mohieddine Kronfol, CIO of Global Sukuk and MENA Fixed Income at Franklin Templeton, commented on the Sukuk agreement: “We are pleased to lead Keyper’s innovative multi-tranche Sukuk to fund its RNPL service, complementing our global Sukuk and private market strategies. This transaction highlights the exciting opportunities our private credit team sees across the region.”
Looking ahead, Keyper plans to continue disrupting the real estate sector with cutting-edge financial and rental solutions. The company aims to make rent processing and payments seamless, flexible, and digital while expanding its services to Abu Dhabi.
Additionally, Keyper is advancing partnerships in fintech, payments, tenant screening, and strengthening data collaborations with real estate entities and regulators.
Keyper’s commitment to transforming the rental process is making a significant impact on both landlords and tenants, reinforcing its position as an innovation leader in the real estate sector.
For more information, visit Keyper’s website. Keyper is available for download on iOS and Android.
