Saudi Proptech Startup Ajras Secures $1.5M in Pre-Series A Round

Ajras, a proptech startup based in Saudi Arabia, has raised $1.5 million in a pre-Series A funding round to expand its innovative approach to property management. The investment was led by Veda Holding, a prominent venture capital firm, marking a significant milestone for the young company.

Founded in 2022 by Muath Aljubailan, Ajras focuses on transforming the rental process within the commercial and industrial property sectors. Its flagship offering, the "Rent Now, Pay Later" model, serves as an intermediary between property owners and tenants, making transactions easier for both parties. This unique financing solution aims to simplify payment schedules and property management by creating a seamless experience for all involved.

Ajras is licensed by the General Authority for Real Estate and is strategically positioned to meet the growing demand for digital property management tools in Saudi Arabia. The country’s real estate sector is flourishing, fueled by Vision 2030 and ongoing smart city initiatives. These developments are encouraging more investments in proptech solutions, such as Ajras, which help streamline property transactions and enhance efficiency.

This latest funding round follows the $28 million the startup raised in November 2023, also led by Madarek International. With a strong financial foundation, Ajras plans to scale its operations and continue developing cutting-edge solutions for the real estate industry.

As Saudi Arabia’s proptech ecosystem grows, it is expected that startups like Ajras will play a crucial role in reshaping how the country approaches property transactions, paving the way for a more tech-driven and user-friendly market.