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.
Richard Jewell
Director: Clint Eastwood
Stars: Paul Walter Hauser, Sam Rockwell, Brandon Stanley
Two-and-a-half out of five stars
More on Quran memorisation:
COMPANY%20PROFILE
%3Cp%3ECompany%20name%3A%20CarbonSifr%3Cbr%3EStarted%3A%202022%3Cbr%3EBased%3A%20Dubai%3Cbr%3EFounders%3A%20Onur%20Elgun%2C%20Mustafa%20Bosca%20and%20Muhammed%20Yildirim%3Cbr%3ESector%3A%20Climate%20tech%3Cbr%3EInvestment%20stage%3A%20%241%20million%20raised%20in%20seed%20funding%3Cbr%3E%3C%2Fp%3E%0A
The Kingfisher Secret
Anonymous, Penguin Books
Iftar programme at the Sheikh Mohammed Centre for Cultural Understanding
Established in 1998, the Sheikh Mohammed Centre for Cultural Understanding was created with a vision to teach residents about the traditions and customs of the UAE. Its motto is ‘open doors, open minds’. All year-round, visitors can sign up for a traditional Emirati breakfast, lunch or dinner meal, as well as a range of walking tours, including ones to sites such as the Jumeirah Mosque or Al Fahidi Historical Neighbourhood.
Every year during Ramadan, an iftar programme is rolled out. This allows guests to break their fast with the centre’s presenters, visit a nearby mosque and observe their guides while they pray. These events last for about two hours and are open to the public, or can be booked for a private event.
Until the end of Ramadan, the iftar events take place from 7pm until 9pm, from Saturday to Thursday. Advanced booking is required.
For more details, email openminds@cultures.ae or visit www.cultures.ae
Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Killing of Qassem Suleimani
BRIEF SCORES
England 353 and 313-8 dec
(B Stokes 112, A Cook 88; M Morkel 3-70, K Rabada 3-85)
(J Bairstow 63, T Westley 59, J Root 50; K Maharaj 3-50)
South Africa 175 and 252
(T Bavuma 52; T Roland-Jones 5-57, J Anderson 3-25)
(D Elgar 136; M Ali 4-45, T Roland-Jones 3-72)
Result: England won by 239 runs
England lead four-match series 2-1
WORLD'S%2010%20HIGHEST%20MOUNTAINS
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Results
International 4, United States 1
Justin Thomas and Tiger Woods (US) beat Marc Leishman and Joaquin Niemann (International) 4 and 3.
Adam Hadwin and Sungjae Im (International) beat Xander Schauffele and Patrick Cantlay (US) 2 up.
Adam Scott and Byeong Hun An (International) beat Bryson DeChambeau and Tony Finau (US) 2 and 1.
Hideki Matsuyama and C.T. Pan (International) beat Webb Simpson and Patrick Reed (US) 1 up.
Abraham Ancer and Louis Oosthuizen (International) beat Dustin Johnson and Gary Woodland (US) 4 and 3.
Killing of Qassem Suleimani
Series info
Test series schedule 1st Test, Abu Dhabi: Sri Lanka won by 21 runs; 2nd Test, Dubai: Play starts at 2pm, Friday-Tuesday
ODI series schedule 1st ODI, Dubai: October 13; 2nd ODI, Abu Dhabi: October 16; 3rd ODI, Abu Dhabi: October 18; 4th ODI, Sharjah: October 20; 5th ODI, Sharjah: October 23
T20 series schedule 1st T20, Abu Dhabi: October 26; 2nd T20, Abu Dhabi: October 27; 3rd T20, Lahore: October 29
Tickets Available at www.q-tickets.com
Stat Fourteen Fourteen of the past 15 Test matches in the UAE have been decided on the final day. Both of the previous two Tests at Dubai International Stadium have been settled in the last session. Pakistan won with less than an hour to go against West Indies last year. Against England in 2015, there were just three balls left.
Key battle - Azhar Ali v Rangana Herath Herath may not quite be as flash as Muttiah Muralitharan, his former spin-twin who ended his career by taking his 800th wicket with his final delivery in Tests. He still has a decent sense of an ending, though. He won the Abu Dhabi match for his side with 11 wickets, the last of which was his 400th in Tests. It was not the first time he has owned Pakistan, either. A quarter of all his Test victims have been Pakistani. If Pakistan are going to avoid a first ever series defeat in the UAE, Azhar, their senior batsman, needs to stand up and show the way to blunt Herath.
