$28 million for Ajras to streamline the leasing process for commercial properties

🏢 Here's Ajras! The new name in Saudi real estate tech making commercial property leasing as smooth as desert sand.

And they just raised a $28 million seed round.

• Co-founded by Muath Aljubailan, Abdullah Al Qarni, Ahmed Al Tamimi, Suleiman Aljarbou, and Suhail Al Tamimi in 2022, the team have their sights set on redefining commercial property leasing.

‍

💰Investor lowdown: With Madarek International leading the seed round, Ajras has secured a hefty $28 million in a mix of debt and equity capital.

• This comes hot on the heels of the $528,000 pre-seed they raised back in April.

‍

🏗️ Tenancy tangle

There are 2 issues facing the commercial real estate sector at the moment: 

1. SMEs often struggle with high initial rent costs, which can limit their money-handling options and ability to get started.

2. Landlords often struggle to keep their properties rented out all the time. This is important for steady income but can be hard to achieve in a fluctuating market.

In the world of commercial real estate, it seems everyone's playing a high-stakes game of Monopoly, but nobody's passing 'Go' or collecting $200!

‍

🛠️The blueprint

Ajras makes leasing easier with a digital platform that reviews applications and helps lease spaces.

The result? Daunting annual rents are broken down into manageable monthly payments.

With this model, businesses don't have to pay all their rent upfront in one giant lump sum, and property owners can relax knowing their places stay rented out.

Crossing two 'Ts' with one stroke of the pen, right?!

‍

🔮 Flashforward

The capital will be used to enable Ajras to concentrate on its core offering, making the payment process for long-term commercial property rentals more efficient.