Latest news with #VedaHolding
Wamda
12-03-2025
- Business
- Wamda
Ajras closes $1.5 million pre-Series A round
Press release: The Saudi proptech startup Ajras has successfully raised a $1.5 million pre-Series A funding round, led by Veda Holding. Founded in 2022 by Muath Aljubailan, Ajras provides unique financing solutions to facilitate rent payments. The startup focuses on commercial and industrial sectors and is licensed by the General Authority for Real Estate. Additionally, it has recently introduced a 'Rent Now, Pay Later' solution. Previously, Agras closed a seed funding round of SAR 105.05 million in November 2023, led by Madarek International. Veda Holding, based in Riyadh, is a business incubator that supports both startups and established companies by providing the necessary capital for growth.
CairoScene
11-03-2025
- Business
- CairoScene
Saudi Proptech Startup Ajras Secures $1.5 Million Pre-Series A
Established in 2022 by CEO Muath Aljubailan, Ajras offers unique financing solutions designed to facilitate rent payments. Mar 11, 2025 Ajras, a Riyadh-based startup, announced the closure of a $1.5 million pre-Series A funding round led by Veda Holding. Established in 2022 by CEO Muath Aljubailan, Ajras offers unique financing solutions designed to facilitate rent payments, particularly within the commercial and industrial sectors. Licensed by the General Authority for Real Estate, the company's 'Rent Now, Pay Later' model acts as a commercial intermediary, streamlining transactions between landlords and tenants. In November 2023, the startup secured $28 million in a seed round led by Madarak International, bringing its total funding to approximately $29.5 million to date While overall PropTech funding across Emerging Venture Markets (EVMs) experienced a 36% year-on-year decline to $72 million in the first nine months of 2024 - the lowest level in five years - Saudi Arabia demonstrated resilience within this sector. The Kingdom reported a 35% increase in PropTech funding, reaching $9 million, and saw a rise in deal activity from four to seven deals compared to the same period in 2023, according to a report from MAGNiTT.
