Keyper, a proptech platform in Dubai, has secured $6.5 million in seed funding to revolutionize rental payments. The funding round was led by prominent investors including MEVP, Jabbar Group, and various strategic and angel investors.
Keyper offers property management services and pays landlords the full rental amount in advance. This unique approach has garnered significant investor interest in the UAE and Gulf region, where property technology firms are increasingly sought after. Despite the challenging tech funding landscape, early-stage companies involved in crowdfunded property investments have also attracted venture capital and private equity support.
Currently managing over 300 properties in Dubai, Keyper takes on properties and leases them using its platform. One standout feature of the platform is that landlords receive the full value of the rental contract upfront, while Keyper recovers the amount in installments from tenants.
According to Omar Abu Innab, co-founder and CEO of Keyper, the company’s rent facilitation services, including upfront rent, are available to any real estate investor in Dubai. Keyper is not a listing site but leverages popular platforms like Property Finder and Bayut for performance.
The recent funding will support Keyper’s operations and help expand its portfolio. Despite launching in January 2022 amid a period of rapid rental growth in Dubai, Keyper has successfully onboarded over 2,100 residential units and more than 800 landlords.
Innab further explained that Keyper’s property management pricing is fixed, but discounts are offered on upfront rent services based on the number of tenant payments. The company boasts a lower cost per managed property compared to industry standards, thanks to its scalable operations. Keyper plans to continue developing technology to maintain this advantage.
As Dubai’s rental market continues to thrive, Keyper’s innovative approach and financial backing position the company for further growth and success. With its strategic partnerships and commitment to leveraging technology, Keyper aims to transform the rental payment landscape in Dubai and provide value to landlords and tenants alike.
Note: This article is generated by OpenAI’s language model.
