Paying the rent is not something to be excited about. It takes time and can cause you a headache. But renting couldn’t get any easier with Ajar Online and we will tell you the reason. Ajar Online, a fintech startup based in Kuwait, closed a second investment in a round led by Dubai-based venture firm BECO Capital, followed by an investment from Sharq Ventures, since late 2016.
Ajar Online is a cloud service designed for the real estate market, offering quick and secure online rent collection and a free property management platform. The service allows tenants to pay their rent online, at anytime and anywhere via SMS and email in less than 60 seconds. Simplifying the rent collection process for landlords and providing efficient property management tools to save time, reduce cost and take the right decisions.
The company’s CEO, Shaheen AlKhudari, states:
“We aim to be the leading platform for property management and online payments in the real estate market, creating the tools to make the industry better and smarter, through using latest technology and security measures. We envision real-estate investors and owners, confidently making the right decisions about their investment and leases. We help landlords to easily manage multiple properties and rent collections anytime and anywhere, reducing the need for hundreds of hours of manual office work, and saving thousands of dollars”.
The idea for Ajar Online came as a result of its CEO’s determination to bring an end to the hassle of paying his monthly rent. Shaheen worked to validate the idea in 2015 by researching the real estate market, specifically its traditional methods of rent payment and property management. He concluded that both tenants and landlords were feeling the same pain, which all stemmed from inadequate payment methods. It was a common issue for landlords who owned just one property, or thousands.
Seizing the opportunity, he brought together the right resources to turn the idea into reality. The beta version was released in late 2015, with a full live cloud solution launched that August. October of the same year, Ajar Online signed a non-exclusive partnership with Warba Bank to In empower their solution, and by January 2016 they officially established the company.
Today, Ajar Online provides optimum free property management solutions by digitizing rent payment and collection services in an effective manner. The team behind Ajar Online and its investors form the backbone of the company, utilizing their know-how to make the product stand out in the market.
Yousef Hammad, Managing Partner at BECO Capital emphasized saying:
“Ajar Online has merely begun to scratch the surface of digitizing and advancing the rental industry, the opportunity in this space is tremendous. Shaheen and his team represent what we look for in teams; hard work, domain expertise and extremely passionate about their business, their industry and their region.”
Moving forward, their timeline consists of creating further enhancements for their property management solutions, with one of their main strengths being the rent payment and collection feature. The team at Ajar Online eagerly aims to be the leading property management and rent payment solutions provider, reducing the hassle of a once time-consuming process by managing properties online.
The platform is available for smartphones as well as for tablets, laptops, and desktops.