UAE – Mubasher: UAE-based rent-now-pay-later platform Keyper announced a pre-series A capital raise valued at $4 million in equity, according to a press release.
This round was led by key regional venture capital firms BECO Capital and Middle East Venture Partners (MEVP), along with investors, including Vivium Holding, Jabbar Group, Signature Developers, and more.
Furthermore, the rent now, pay later (RNPL) startup inked a term sheet agreement for an additional $30 million in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Limited. This brings the cumulative capital raised to more than $40 million.
Through the new funds, Keyper will invest in digitising the rental experience in the UAE and bolstering its innovative RNPL solution.
Additionally, it will use the Sukuk proceeds to enable landlords to receive annual rent upfront and offer tenants the flexibility of paying rent in monthly instalments via credit/debit cards and other digital payment methods.
Omar Abu Innab, Co-Founder and CEO of Keyper, commented: "Keyper is transforming what it means to interact with real estate in the UAE.”
“For Landlords, we offer a convenient property ownership experience, thanks to our property management application and innovative financial services, such as giving landlords the ability to access their entire portfolio rental income at any point during the lease,” Abu Innab highlighted:
He added: “For Tenants, they can have a fully digital experience to pay their rent monthly and manage their tenancy, eradicating the need for upfront payments via outdated bank checks.”
Keyper witnessed a remarkable performance in 2024 after onboarding over 3,000 residential units worth $2 billion, processing more than $10 million in annual rent payments. It also deployed above $1 million in annual rent facilitation through its RNPL product.
Meanwhile, Keyper plans further to disrupt real estate with advanced financial and rental solutions to expand its services to Abu Dhabi. This is in addition to boosting partnerships in fintech, payments, tenant screening, and reinforcing data collaborations with real estate entities and regulators.
