- Ajras secured $1.5 million in pre-Series A funding, reinforcing investor confidence in Saudi Arabia’s proptech sector.
- The company’s ‘Rent Now, Pay Later’ model simplifies rental transactions, benefiting both landlords and tenants.
- Saudi Arabia’s proptech market is booming, fueled by Vision 2030, smart city projects, and increased venture capital investment.
Saudi Arabia’s proptech sector continues to grow as Ajras, a leading startup in the industry, has successfully secured $1.5 million in a pre-Series A funding round. The investment was led by Veda Holding, highlighting the growing interest in digital real estate solutions in the Kingdom.
A Game-Changing Proptech Model
Ajras, founded in 2022 by Muath Aljubailan, has positioned itself as a transformative player in the Saudi real estate market. The company specializes in financing solutions for the commercial and industrial sectors, streamlining rental transactions through its “Rent Now, Pay Later” model.
This model simplifies tenant payments and property management by acting as a commercial intermediary for landlords. It enables seamless communication and document uploads, making the rental process more efficient and hassle-free.
A Growing Investment Landscape
The latest funding follows a significant $28 million investment in November 2023, led by Madarek International. Ajras’ ability to attract continuous investment signals strong market confidence in its innovative approach to real estate technology.
Saudi Arabia’s proptech sector is undergoing a rapid transformation, driven by Vision 2030 initiatives, smart city developments, and increasing digital adoption in real estate. Investors are keen on supporting startups that offer cutting-edge solutions for property transactions, rental management, and real estate financing.
The Rise of Proptech in Saudi Arabia
Proptech, short for property technology, refers to the use of digital solutions to enhance real estate services. It includes platforms for buying, selling, renting, managing, and investing in properties, ultimately improving efficiency and customer experience.
Saudi Arabia is becoming a major hub for proptech innovation. The government’s support, coupled with major projects like NEOM and increased venture capital activity, is driving substantial growth in the sector. In addition to Ajras, other Saudi proptech startups, such as Ejari and Rize, have also secured significant investments, reflecting the sector’s strong potential.
According to market reports, the Saudi real estate sector is projected to grow from $74.99 billion in 2025 to $109 billion by 2030, with a CAGR of 7.89%. This expansion provides ample opportunities for proptech firms to introduce advanced solutions and redefine property transactions in the region.
Also Read: The Rise of Rent-Now-Pay-Later (RNPL) in the UAE
Future Outlook
With fresh capital in hand, Ajras aims to expand its offerings and enhance its platform’s capabilities. The company’s goal is to further simplify real estate transactions and introduce new financial solutions tailored to the needs of landlords and tenants.
As Saudi Arabia continues to invest in digital transformation, proptech startups like Ajras are set to play a pivotal role in shaping the future of real estate. Investors and industry experts are watching closely as these companies drive efficiency and innovation in the Kingdom’s evolving property market.
Follow us on Instagram, LinkedIn, and Twitter for startup & business news and inspiring stories of MENA businesses, entrepreneurs, startups, innovators, investors, and change-makers.
To report any issue or error in the story, please email us editor [at] rasmal [dot] com.
