Keyper, a Dubai-based rent-now-pay-later (RNPL) platform, has successfully raised $4 million in equity funding in a pre-Series A round. The round was led by Beco Capital and Middle East Ventures Partners, with participation from existing investors Vivium Holdings, Jabbar Internet Group, and Signature Developers. New investors Annex Investments, Pin Investment, and Al Qahtani Investment also joined, along with several strategic angel investors.
In addition to the equity funding, Keyper has secured $30 million in Shariah-compliant sukuk financing from global asset manager Franklin Templeton Investments. This follows a $6.5 million seed round led by Access Bridge Ventures and Vivium Holdings just over six months ago.
Founded in 2022 by Omar Abu Innab and Walid Shihabi, Keyper is a proptech platform designed for real estate investment and management. It helps landlords automate daily tasks and monitor their portfolios in real-time. Keyper also offers a rent-now-pay-later product called Keyper Upfront, which allows landlords to collect a year’s rent upfront while enabling tenants to make monthly payments through various digital payment options, including credit and debit cards.
Currently operating exclusively in Dubai, Keyper processes over $10 million in annual rental payments and has onboarded more than 3,000 residential units. The platform facilitates over $1 million in annual rent through its RNPL service.
Co-founder and CEO Omar Abu Innab commented on the milestone, stating, “Our platform is transforming real estate interactions in the UAE. For landlords, we offer a convenient property ownership experience through our management application and innovative financial services, allowing access to full rental income at any point during the lease. For tenants, we provide a fully digital experience for monthly rent payments and tenancy management, eliminating the need for outdated bank checks.”
Dany Farha, co-founder and Managing Partner of BECO Capital, expressed excitement about backing Keyper. “We are thrilled to support a strong team with deep domain expertise at the intersection of real estate and finance. Keyper’s innovation in the proptech sector aligns perfectly with our thesis on proptech and embedded finance, offering transformational value to customers efficiently and profitably,” he said.
Keyper plans to use the new funds to scale its RNPL product and enhance the rental experience. Expansion plans include extending their services to Abu Dhabi in the near future.