Riyadh - Sharikat Mubasher: Ajras, the Saudi proptech company, secured SAR 105 million in a seed debt and equity funding round with the participation of Madarek International Holding Company, the proptech company revealed.
Ajras will allocate the proceeds to expand its business portfolio and develop its products, including rent payment management solutions.
Muath Aljubailan, Founder and CEO of Ajras, affirmed that Madarek’s participation in the round is a milestone for all parties sharing the same objective to create a prominent proptech market.
For his part, Sari Al-Salem, Chief Executive of Madarek, emphasized the importance of investing in the proptech sector. In addition, he hailed Ajras’ business model and products as they are expected to meet the growing demand of the market.
Ajras, established in 2022, provides unique financing solutions for landlords and tenants to ease the whole rental payment process.
Meanwhile, Madarek International Holding Company focuses on investing in promising investment fields with sustainable growth. It has a diversified investment portfolio that aims to achieve integration between its companies in the health, financial, real estate, and logistics sectors.
