Keyper Raises $6.5 Million in Seed Funding for Proptech Platform Revolutionizing Rental Payments in Dubai, United Arab Emirates

Date:

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.

See also  Israeli Start-Up Aim Security Launches GenAI Platform, Raises $10M in Seed Funding

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.

Frequently Asked Questions (FAQs) Related to the Above News

What is Keyper?

Keyper is a proptech platform based in Dubai that offers property management services and revolutionizes rental payments.

How does Keyper differ from traditional property management companies?

Keyper pays landlords the full rental amount in advance, providing immediate cash flow for property owners. This is different from the typical practice where landlords receive rent in installments from tenants.

How does Keyper make money?

Keyper charges a fixed fee for its property management services. Additionally, the company offers discounts on upfront rent services based on the number of tenant payments.

Who are the investors that led Keyper's recent funding round?

Prominent investors including MEVP, Jabbar Group, and various strategic and angel investors led Keyper's seed funding round.

What is the scope of Keyper's operations?

Keyper currently manages over 300 properties in Dubai but aims to expand its portfolio with the help of the recent funding.

How does Keyper ensure its lower cost per managed property compared to industry standards?

Keyper's scalable operations and ongoing technological development allow the company to maintain a lower cost per managed property.

Are Keyper's services available only to real estate investors in Dubai?

No, Keyper's rent facilitation services, including upfront rent, are available to any real estate investor in Dubai.

Does Keyper list properties on its platform?

Keyper is not a listing site; instead, it leverages popular platforms like Property Finder and Bayut for performance.

How successful has Keyper been since its launch?

Despite launching in January 2022, Keyper has already onboarded over 2,100 residential units and more than 800 landlords.

What is Keyper's vision for the future?

Keyper aims to transform the rental payment landscape in Dubai through its innovative approach, strategic partnerships, and commitment to leveraging technology to provide value to both landlords and tenants.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

Share post:

Subscribe

Popular

More like this
Related

Canada Boosts Arctic Defence Amid Climate Change Threats

Canada ramps up Arctic defense amid climate change threats with new policy, Arctic-compatible vehicles, and potential nuclear submarines.

OpenAI CEO Sam Altman Joins Billionaire Club, Trails Behind Elon Musk

OpenAI CEO Sam Altman now a billionaire, but still trails behind Elon Musk in tech industry dominance.

Smart Ways Retirees Can Maximize Social Security Checks

Discover 7 smart ways retirees can maximize their Social Security checks, from covering essentials to investing for the future.

Generative AI Surge: ChatGPT Revolutionizes Workplace Dynamics

Discover how ChatGPT is revolutionizing workplace dynamics among younger employees. Explore the rising trend of generative AI tools in the workplace.