Keyper, a Dubai-based property technology start-up, has raised $6.5 million in a seed funding round that it will use to expand its operations and geographical footprint, with a focus on overseas markets, from next year.
The investment round was led by UAE-based early stage venture fund Access Bridge and single family office Vivium Holdings, with Dubai's Middle East Venture Partners and Jabbar Internet Group, key players in the real estate ecosystem and a group of angel investors, also participating, the company said on Tuesday.
Keyper will be expanding into Saudi Arabia, the Arab world's biggest economy, in 2024, co-founder and chief strategy officer Walid Shihabi told The National.
Based on the portfolios of its existing customer base, it will look into other global real estate investment centres, including London, Istanbul and New York.
“Our mission is to develop technology to bring real estate in the region to the same level of digitisation as other global hubs like London or New York, starting with removing checks by digitising the rental payment life cycle in the UAE and investment reporting through our investor app,” he said.
Keyper will also cater to the expanding digitisation in the property investment and management space, with trends in the sector and user adaptation expected to continuously, Mr Shihabi said.
“Payment of rent will transition towards easier and more manageable digital payment methods, with optionality of embedded payments. In terms of property investment trends, we believe that access to live transaction data will enable much more effective tools to assist decision-making by private investors,” he said.
“Digitisation of payments will enable innovative financial solutions in order to manage and optimise landlords' return on investment and cash flows, as well as making renting for tenants a smooth and more affordable experience.”
PropTech is the application of technology into the real estate industry, creating an ecosystem that encompasses anything from property management and bookings to construction and analytics, largely accessible through a mobile app.
The global PropTech market is projected to surpass $133 billion in 2032, from an estimated $35 billion in 2023, growing at a compound annual rate of 16 per cent, the latest data from Precedence Research shows.
The latest funding “significantly accelerates our growth trajectory, empowering us to deliver a seamless, transparent and data-driven real estate experience for all stakeholders”, said Omar Abu Innab, co-founder and chief executive of Keyper.
Keyper, which has added more than 2,100 freehold residential units in Dubai valued at about Dh4.5 billion ($1.23 billion) to its platform, as well as more 800 landlords, is also tapping into the potential of artificial intelligence to improve its operations, Mr Shihabi said.
“Given that efficiency is a key target for our property management team, we leverage different forms of AI to enhance their productivity,” he said.
“We also leverage AI in our tenant-vetting software, which powers both our property management operations, as well as the eligibility for our rent facilitation products, rent now [and] pay later and upfront rent.”
AI has already been used in businesses but has significantly accelerated with the emergence of generative AI, a highly-conversational iteration of the technology that has been tipped to be a game-changer in industries.
“Integrating digital technology into the real estate sector resonates with our belief in the transformative power of technology,” said Issa Aghabi, managing partner at Access Bridge Ventures.
RESULT
Al Hilal 4 Persepolis 0
Khribin (31', 54', 89'), Al Shahrani 40'
Red card: Otayf (Al Hilal, 49')
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The drill
Recharge as needed, says Mat Dryden: “We try to make it a rule that every two to three months, even if it’s for four days, we get away, get some time together, recharge, refresh.” The couple take an hour a day to check into their businesses and that’s it.
Stick to the schedule, says Mike Addo: “We have an entire wall known as ‘The Lab,’ covered with colour-coded Post-it notes dedicated to our joint weekly planner, content board, marketing strategy, trends, ideas and upcoming meetings.”
Be a team, suggests Addo: “When training together, you have to trust in each other’s abilities. Otherwise working out together very quickly becomes one person training the other.”
Pull your weight, says Thuymi Do: “To do what we do, there definitely can be no lazy member of the team.”
A new relationship with the old country
Treaty of Friendship between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates
The United kingdom of Great Britain and Northern Ireland and the United Arab Emirates; Considering that the United Arab Emirates has assumed full responsibility as a sovereign and independent State; Determined that the long-standing and traditional relations of close friendship and cooperation between their peoples shall continue; Desiring to give expression to this intention in the form of a Treaty Friendship; Have agreed as follows:
ARTICLE 1 The relations between the United Kingdom of Great Britain and Northern Ireland and the United Arab Emirates shall be governed by a spirit of close friendship. In recognition of this, the Contracting Parties, conscious of their common interest in the peace and stability of the region, shall: (a) consult together on matters of mutual concern in time of need; (b) settle all their disputes by peaceful means in conformity with the provisions of the Charter of the United Nations.
ARTICLE 2 The Contracting Parties shall encourage education, scientific and cultural cooperation between the two States in accordance with arrangements to be agreed. Such arrangements shall cover among other things: (a) the promotion of mutual understanding of their respective cultures, civilisations and languages, the promotion of contacts among professional bodies, universities and cultural institutions; (c) the encouragement of technical, scientific and cultural exchanges.
ARTICLE 3 The Contracting Parties shall maintain the close relationship already existing between them in the field of trade and commerce. Representatives of the Contracting Parties shall meet from time to time to consider means by which such relations can be further developed and strengthened, including the possibility of concluding treaties or agreements on matters of mutual concern.
ARTICLE 4 This Treaty shall enter into force on today’s date and shall remain in force for a period of ten years. Unless twelve months before the expiry of the said period of ten years either Contracting Party shall have given notice to the other of its intention to terminate the Treaty, this Treaty shall remain in force thereafter until the expiry of twelve months from the date on which notice of such intention is given.
IN WITNESS WHEREOF the undersigned have signed this Treaty.
DONE in duplicate at Dubai the second day of December 1971AD, corresponding to the fifteenth day of Shawwal 1391H, in the English and Arabic languages, both texts being equally authoritative.
Signed
Geoffrey Arthur Sheikh Zayed
Lexus LX700h specs
Engine: 3.4-litre twin-turbo V6 plus supplementary electric motor
Power: 464hp at 5,200rpm
Torque: 790Nm from 2,000-3,600rpm
Transmission: 10-speed auto
Fuel consumption: 11.7L/100km
On sale: Now
Price: From Dh590,000
Results
2pm: Handicap Dh 90,000 1,800m; Winner: Majestic Thunder, Tadhg O’Shea (jockey), Satish Seemar (trainer).
2.30pm: Handicap Dh120,000 1,950m; Winner: Just A Penny, Sam Hitchcott, Doug Watson.
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3.30pm: Jebel Ali Classic Conditions Dh300,000 1,400m; Winner: Thegreatcollection, Adrie de Vries, Doug Watson.
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5.30pm: Handicap Dh85,000 1,000m; Winner: Shanaghai City, Jesus Rosales, Rashed Bouresly.
Wicked: For Good
Director: Jon M Chu
Starring: Ariana Grande, Cynthia Erivo, Jonathan Bailey, Jeff Goldblum, Michelle Yeoh, Ethan Slater
Rating: 4/5
AIDA%20RETURNS
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Company%20Profile
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Stree
Producer: Maddock Films, Jio Movies
Director: Amar Kaushik
Cast: Rajkummar Rao, Shraddha Kapoor, Pankaj Tripathi, Aparshakti Khurana, Abhishek Banerjee
Rating: 3.5
Monster
Directed by: Anthony Mandler
Starring: Kelvin Harrison Jr., John David Washington
3/5
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UAE currency: the story behind the money in your pockets
