Ajras, a Saudi-based proptech startup, has successfully raised $1.5 million in a Pre-Series A funding round.
The investment led byVeda Holding aims to support the company’s expansion and enhance its digital financing solutions for the rental sector.
Founded in 2022 by Muath Aljubailan, Ajras specializes in providing innovative financing solutions to simplify rental payments, with a focus on commercial and industrial sectors.
Ajras is licensed by the General Authority for Real Estate in Saudi Arabia and recently, the company launched its “Rent Now, Pay Later” service, which enhances the rental experience for tenants and property owners.
Previously, the startup closed a Seed funding round in November 2023, raising SAR 105.05 million, led by Madarik Global.
This reflects investor confidence in the company’s unique business model and its potential to transform the proptech sector.
Saudi Arabia’s proptech sector is undergoing a major transformation, leveraging technology to streamline operations and enhance market efficiency.
The Saudi real estate market is projected to reach $74.99 billion by 2025, with a 7.89% compound annual growth rate (CAGR), reaching $109.63 billion by 2030.
This growth presents significant opportunities for startups like Ajras to reshape the digital real estate landscape.
