- Saudi Arabia-based proptech Munjz, has closed a $5 million Series A round, led by undisclosed investors, in addition to Vision Venture, Almajdiah Investment Company and Watheeq Proptech Fund.
- Founded in 2017 by Abdullah AlDaij, Munjz is a cloud platform for property and real estate management.
- This round aims to enhance Munjz's position in the Saudi market and upgrade its automation of facilities management.
Munjz, the cloud platform for property and real estate management announced the closing of a Series A investment round of $5 million (SAR18.75 million) led by one of the region's leading companies in the field of tourism, hospitality, and facilities management whose name was not disclosed, in addition to Vision Venture, Almajdiah Investment Company and Watheeq Proptech Fund.
Munjz Company was established in 2017 under the leadership of Eng. Abdullah AlDaij, to provide maintenance services to individuals (homeowners) through approved service providers. This was done by creating a specialized technical market for maintenance that brings together the needs of customers with technicians and service providers. In November 2021, Munjz Company transformed the business model to a Proptech SaaS targeting the business sector by providing a technology platform that connects all properties in one place enabling property managers and proprietors to manage the property, associated facilities, and operations to the property.
Munjz in its first year of launching the new product has robust traction,
4000 units onboarded
75 active corporate accounts
Big names in the Saudi market onboarded as (Almajdiah Residence, MacDonalds, Dunkin Donuts, etc..)
This round aims to enhance Munjz's position in the Saudi market through the development of the PMS platform for the business sector, by upgrading the automation of facilities management work and digitizing facilities management operations, including maintenance, cleaning and contracting work, and improving the user experience with all relevant parties. Munjz's PMS platform is the first Saudi platform in the field of facilities management that connects all property owners, real estate beneficiaries, facilities managers, and operators in one platform, to facilitate mutual business between them.
In this regard, Eng. Abdullah AlDaij, the CEO of Munjz stated, "We are very proud that we are the first Saudi PropTech SaaS Company that provides technical solutions that fit with the Saudi market driving a deep understanding of its needs. We are also proud that we are the first company in this field to close an investment round (Series A) led by companies from the same sector we serve.
As for its next steps, Eng. Abdullah AlDaij, added, "The coming period will be a starting point for serving more customers in the Kingdom from the residential and commercial sectors, and expanding the number of units served by the PMS platform. The technical aspect is very important to us, and therefore we are working to develop the product and add new features that serve stakeholders in this sector.
Eng. Kais Al-Essa, the Founding Partner and CEO of Vision Ventures added: “We are pleased to continue our support to Munjz, one of our portfolio companies. Munjz’s development leads to it serving a tremendous market; the real estate sector is undergoing significant digital transformation to optimize and improve its services. The real estate sector is one of the fast-growing sectors in the past few years, and it is expected that this growth will continue and the competition will lead to better services to customers, which is where Munjz is the easiest solution to the sector.
Furthermore, Munjz solutions are designed to meet the needs of the real estate market through a system that embraces all services facilitated for users, including real estate managers, owners, investors, tenants, service providers, and workers in the commercial sectors in the field of food and beverages and retailers.
Additionally, all users can access the Munjz platform through multiple devices and operating systems, to be a central system for business automation that is easy to share with various parties.
The platform has a smart system capable of reading real-time data and predicting workflow solutions, providing exceptional customer experiences with high efficiency, and it relies on strategic partners and third-party service providers to provide an integrated and seamless experience for all customers.