Ajras closes $1.5 million pre-Series A round

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  • Funding Achievement: Saudi proptech startup Ajras has raised $1.5 million in a pre-Series A funding round, led by Veda Holding.
  • Company Overview: Founded in 2022 by Muath Aljubailan, Ajras focuses on innovative financing solutions for rent payments, targeting commercial and industrial sectors.
  • New Service Offering: The startup has launched a “Rent Now, Pay Later” solution, enhancing its financing options.
  • Previous Funding: Ajras earlier secured SAR 105.05 million in a seed funding round in November 2023, led by Madarek International.
  • Veda Holding: Based in Riyadh, Veda Holding is a business incubator that supports startups and established companies with capital for growth.

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.

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Startup

  • Name: Ajras
  • Founded: 2022
  • Focus: Financing solutions for rent payments in the commercial and industrial sectors

Founders

  • Muath Aljubailan

Funding Rounds

  1. Pre-Series A

    • Amount Raised: $1.5 million
    • Lead Investor: Veda Holding
  2. Seed Round
    • Amount Raised: SAR 105.05 million
    • Date: November 2023
    • Lead Investor: Madarek International

Investors

  • Veda Holding
    • Location: Riyadh
    • Type: Business incubator supporting startups and established companies
  • Madarek International

Additional Information

  • Licensing: Ajras is licensed by the General Authority for Real Estate.
  • New Product: Introduced a “Rent Now, Pay Later” solution.

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