Ajar, a leading cloud-based property management and rent collection platform have announced that it has closed its pre-series A round with the backing from SBX Capital, a venture capital firm, 500 Startups, and Seed Partner, bringing its total funding to date to $7.5 million.

Today, Ajar manages over 35,000 units across Kuwait and the UAE said Al Khudhari, who is also the CEO. Ajar proved to be most critical amid the COVID-19 crisis. Faced with a global financial crisis, lockdowns, and increasing unemployment (which in turn, affected rent payments), landlords and real estate companies turned to Ajar for both a cost-cutting online solution and for advice on how to navigate the uncertainty brought by the pandemic.

Sharif El-Badawi, the managing partner for Mena, 500 Startups said: “Ajar is solving a real market problem, and has managed to rally a strong team of passionate innovators to carry its vision. 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.”

Source Credit: Trade Arabia