Home Startup Keyper Raises $34 Million in Mix of Equity, Sukuk

Keyper Raises $34 Million in Mix of Equity, Sukuk

This funding injection will enhance Keyper's rent now and pay later (RNPL) solution.

By Inc.Arabia Staff
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Keyper, a UAE-based proptech company, has announced a major capital raise totaling $34 million, comprising a mix of equity and Shariah-compliant sukuk financing. The pre-series A round, amounting to $4 million in equity, was led by prominent regional venture capital firms BECO Capital and Middle East Venture Partners (MEVP).[1]

This round also saw participation from existing investors, including Vivium Holding, Jabbar Group, Signature Developers, and new investors such as Annex Investments, Pin Investment, and Al Qahtani Investment, along with other strategic angels.

In addition to the equity raise, Keyper has secured a term sheet agreement for an additional $30 million in sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd., bringing the total capital raised to over $40 million.

This funding injection will enhance Keyper's rent-now-pay later (RNPL) solution. The company also plans to expand its services to Abu Dhabi.

Keyper's RNPL solution offers the opportunity to receive annual rent upfront while providing tenants with the flexibility to pay rent in convenient monthly installments through various digital payment methods.

Founded by Omar Abu Innab and Walid Shihabi in 2022, Keyper onboarded over 3,000 residential units valued at $2 billion, processed more than $10 million in annual rent payments, and facilitated over $1 million in annual rent transactions through its RNPL product.

Keyper has also introduced features such as "similar transactions," helping landlords monitor relevant market sales and rental transactions within their portfolios.In October 2023, Keyper closed its $6.5 million Seed round led by Access Bridge Ventures and Vivium Holdings, with participation from venture Capital firm MEVP, Jabbar Internet Group, key players in the real estate ecosystem, and a group of angel investors. [2]

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