• Saudi proptech startup Ajras secures USD 1.5M pre-Series A funding round led by Veda Holding. 
• Ajras’ “Rent Now, Pay Later” model streamlines transactions, acting as an intermediary for landlords and simplifying tenant payments and management.
• Saudi Arabia’s proptech sector is booming, fueled by Vision 2030, smart city projects, and rising investments in digital real estate solutions.

Ajras

What is the deal? Saudi proptech startup, Ajras, raised USD 1.5 million in a pre-Series A investment round led by Veda Holding. 

Company Snapshot  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. 

Essentially, its business model acts as a commercial intermediary for the owner, facilitating payment and property management for the tenant. Furthermore, it simplifies communication and file upload processes on the Ajras platform.

It is worth mentioning that Ajras raised USD 28 million in November 2023 in a round led by Madarek International.

Proptech

What is Proptech? Proptech stands for property technology which is tech tools used to enhance the real estate sector. It includes tech and digital solutions for buying, selling, renting, managing and investing in properties. The goal is to optimize real estate transitions while enhancing efficiency in order to elevate the experience for buyers, sellers, renters and property managers. 

Proptech in Saudi In Saudi, the sector is undergoing a transformative phase due Vision 2030 goals. This is due to multiple reasons including the government fostering an environment that fosters proptech growth and leading smart city projects such as NEOM. Additionally, venture capital firms are recognizing the potential of proptech and there is a rise in online property marketplaces and rental platforms. As well as integration of emerging technologies such as AI, blockchain and IoT to develop innovative solutions.

Furthermore, recently there have been a number of investments in Saudi Proptech startups. For instance, Ejari raised USD 14.65 million in 2024 while Rize raised USD 35 million in 2025. 

There is also a lot of room for growth in the Saudi Real Estate Market as it is estimated at USD 74.99 billion in 2025 and is expected to reach USD 109 billion by 2030 at a CAGR of 7.89% during the forecast period.