Sunday, October 15, 2017

Kuwait's Ajar to redefine Mena real estate sector

Ajar Online, a fintech startup based in Kuwait, has launched a new cloud service aimed at redefining the real estate sector in the Middle East and North Africa (Mena) region through digitisation of the sector.

The service allows tenants to pay their rent online, at anytime and anywhere via SMS and email in less than 60 seconds. Simplifying the rent collection process for landlords and providing efficient property management tools to save time, reduce cost and take the right decisions, said a statement from the company.

The company closed a second investment in a round led by Dubai-based venture firm Beco Capital, followed by an investment from Sharq Ventures, since late 2016.

CEO Shaheen AlKhudari said: "We aim to be the leading platform for property management and online payments in the real estate market, creating the tools to make the industry better and smarter, through using latest technology and security measures."

"We envision real-estate investors and owners, confidently making the right decisions about their investment and leases. We help landlords to easily manage multiple properties and rent collections anytime and anywhere, reducing the need for hundreds of hours of manual office work, and saving thousands of dollars," he added.

Ajar Online has offices in Kuwait besides representatives in key markets of Dubai (UAE) and Saudi Arabia. The company is now actively pursuing to boost its workforce by hiring entrepreneurial talents to join their passionate team.

Ajar Online seeks to provide its online services for the global market by early 2018, said AlKhudari.

Yousef Hammad, the managing partner at Beco Capital said: "Ajar Online has merely begun to scratch the surface of digitising and advancing the rental industry, the opportunity in this space is tremendous."

"Shaheen and his team represent what we look for in teams; hard work, domain expertise and extremely passionate about their business, their industry and their region," he noted.

Hamoud S Al Sabah, partner at Sharq Ventures, stated: "Ajar Online is leading the new wave of property management solutions, using the next generation of technology to create tranquility for landlords and innovative customer experience for tenants."

As the first rent collection platform in the region, Ajar Online enjoys a strong first-mover advantage giving them the ability to cover the region's real estate market.

The company plans to strengthen their presence by scaling globally using their distinguished platform and its ability to serve landlords and tenants at any time and in any location, he added.-TradeArabia News Service

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