Property portal Ajar now has $7.5m to deploy

Dubai: Ajar, the DIFC based property management and rent collection portal, closed its pre-Series A funding round bring in new investors and raising its kitty to $7.5 million. The additional funds will go towards geographic extension as well as add more features to the platform.

“The past few months have only been a testament to the startup’s resilience, and we are excited to see Ajar rise as a leader in proptech,” said Shaheen Al Khudhari, CEO.

The company, which currently operates in Kuwait and UAE with 35,000 units, has brought in SBX Capital, 500 Startups and Seed Partner as shareholders during this round.

“During the COVID-19 lockdown, it quickly became very clear to landlords that going digital was the way forward,” said Al Khudhari.

“Rent collection for those who depended on cash and cheque payments completely stopped, affecting the majority in the market. Landlords saw Ajar as an opportunity to not only go digital, but to also gain insights on how the industry was minimizing losses, what tactics worked, and what didn’t.”