1. Saudi proptech startup Aamar has closed a Seed round exceeding $4 million, with participation from Aqar App, Razm Investment, Al Majdiah Investment, Blom Invest, and angel investors.
2. Founded in late 2023 by Faisal Alarfaj, Abdulaziz Alyabis, and Yousef Qanaq, Aamar provides an AI-powered platform that automates leasing and asset-finance operations, simplifying the rental journey for individuals and businesses while reducing manual coordination.
3. The funding will be used to expand product capabilities and scale geographically across Saudi Arabia, as Aamar builds additional proptech solutions to improve efficiency, transparency, and user experience.

Press release:

Saudi proptech startup Aamar has announced the closing of a Seed funding round exceeding $4 million, aimed at simplifying and automating leasing and asset-finance operations through AI-powered solutions.

The round saw participation from Aqar App, Razm Investment, Al Majdiah Investment, and Blom Invest, in addition to a number of angel investors.

Founded in late 2023 by Faisal Alarfaj, Abdulaziz Alyabis, and Yousef Qanaq, Aamar offers a digital platform that automates the rental journey end to end, reducing manual work and improving operational efficiency for both individuals and businesses.

The platform leverages AI technologies and integrates with real estate platforms and relevant regulatory entities to streamline communication, automate coordination, and deliver a clearer and more transparent landlord-tenant experience. To date, Aamar has served more than 10,000 customers and facilitated rental units with a total value exceeding SAR 150 million.

The newly raised capital will support product development and the expansion of Aamar’s AI-powered leasing and asset-finance services. The company also plans to expand geographically beyond Riyadh into other regions across the Kingdom, while broadening its proptech product suite to further enhance efficiency and user experience.

Commenting on the round, Faisal Alarfaj, Co-Founder and CEO of Aamar, said the Saudi rental market is witnessing rapid growth, creating strong demand for digital solutions that improve efficiency and service quality. He added that the investment provides momentum to scale the platform and capture opportunities across the sector.

Ibrahim AshShohail, CEO of Aqar App, said Aamar addresses a key challenge in the rental market by replacing fragmented, manual processes with a more structured and automated journey that benefits both landlords and tenants.