Keyper, a UAE-based proptech company, announced a pre-series A capital raise of $4 million in equity.
The round was led by BECO Capital and Middle East Venture Partners (MEVP), with participation from existing investors Vivium Holding, Jabbar Group, Signature Developers, and new investors Annex Investments, Pin Investment, Al Qahtani Investment, among other strategic angels.
In addition, Keyper signed a term sheet agreement for an additional $30 million in Shariah-compliant Sukuk financing from global asset manager Franklin Templeton Investments (ME) Ltd, bringing its cumulative capital raised to over $40 million.
Keyper plans to invest the funds into digitising the rental experience in the UAE and scaling its innovative Rent Now Pay Later (RNPL) solution.
The Sukuk proceeds will enable landlords to receive annual rents upfront and offer tenants the flexibility of paying rent in monthly installments via credit/debit cards and other digital payment methods.
“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. 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digital experience to pay their rent monthly and manage their tenancy, eradicating the need for upfront payments via outdated bank checks,” Omar Abu Innab, Co-Founder and CEO of Keyper said.
In 2024, Keyper achieved significant milestones, including onboarding more than 3,000 residential units worth $2 billion, processing over $10 million in annual rent payments, and deploying over $1 million in annual rent facilitation through its RNPL product.
“We are very excited to back a strong team, with diverse and deep domain expertise at the intersection of real estate and finance, innovating in the prop-tech sector on the global stage, and working very hard to find ways to offer a transformational value proposition to its customers in an efficient and profitable manner, which aligns perfectly with our thesis on both prop-tech and embedded finance that has many of the most desirable attributes that we seek,” Dany Farha, Co-Founder and CEO of BECO Capital added.
Keyper plans to further disrupt real estate with cutting-edge financial and rental solutions, make rent processing and payments seamless, flexible, and digital, and expand its services to Abu Dhabi.
The company is also advancing partnerships in fintech, payments, tenant screening, and strengthening data collaborations with real estate entities and regulators.
“We are pleased to enter into an understanding to sole-lead Keyper’s innovative multi-tranche sukuk to fund its RNPL service, which simultaneously complements our global sukuk and private market strategies,” Mohieddine Kronfol, CIO of Global Sukuk and MENA Fixed Income at Franklin Templeton, said.
“Once concluded, the transaction will further highlight the exciting opportunities our private credit team sees across the region,” he added.
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