Dubizzle, a leading digital classifieds company in the Middle East, has announced a strategic investment in Takeem, a UAE-based platform specializing in rental protection and guarantee solutions. This investment comes alongside an exclusive partnership, making Bayut and Dubizzle the sole channels for Takeem's services. This move is part of Dubizzle Group's broader strategy to expand its investments in the PropTech sector and enhance the digital rental ecosystem in the UAE. This investment extends the group's strategy to build a comprehensive digital real estate ecosystem. This system aims to cover every stage of the tenant and landlord journey, from property search and payment processes to protecting rental income and managing risks. This follows Dubizzle's recent investment in Tern, a platform focused on rental payment solutions. Takeem offers the first integrated rental guarantee system in the GCC. It allows landlords to protect their rental income if tenants default on payments, and also covers emergency maintenance costs. Additionally, it provides solutions for monthly payments through digital direct debit, which helps strengthen the relationship between landlords, tenants, agents, and property managers. Founded by Rakesh Mavath and Pooja Vithlani, Takeem has successfully expanded its operations to cover over 100,000 property units. The platform leverages a specialized rental market database and data-driven analytical models to assess risks and support leasing decisions. The company has also seen a remarkable 900% growth in customer onboarding over the past two months, reflecting the increasing demand for risk management and rental guarantee solutions in the UAE market. Haider Ali Khan, CEO of Dubizzle Group in the UAE, stated that rental guarantees have become one of the most pressing needs in the rental market. He noted the growing reliance on digital solutions that boost trust and reduce risks for all parties involved. He added that the group's investment in Takeem shows its confidence in the platform's ability to bring about a significant transformation in the rental sector. It also aligns with Dubizzle's vision to build a comprehensive real estate ecosystem that includes property search, payment, and protection services, ultimately improving market efficiency and transparency. Rakesh Mavath, Co-founder of Takeem, commented that Dubizzle Group joining as a partner and investor marks a significant milestone for the company. This partnership will allow Takeem to expand its rental guarantee services and reach a larger segment of landlords and agents through the Bayut and Dubizzle platforms. He also mentioned that the company will continue to develop its data-driven solutions, which will help stabilize the rental market and improve risk management efficiency in the sector. The investment was made through Dubizzle Group Ventures, the early-stage investment arm of Dubizzle Group. This arm focuses on investing in innovative tech startups that develop solutions linked to the group's digital ecosystem across GCC markets. This investment highlights Dubizzle's commitment to expanding its presence in the PropTech sector by supporting startups that offer specialized solutions to address challenges in the rental market. This will help boost the sector's efficiency and keep pace with the rapid growth of the real estate market in the UAE.
Related editorial
Egyptian Engineering Talent Shines: Ain Shams University Team Makes History at UK Formula Student
The Ain Shams University engineering team recently made history at the UK Formula Student competition, becoming the first from Egypt and Africa to win the Formula AI category for autonomous vehicles. But their success didn't stop there! They also snagged impressive second-place finishes in the Simulation and System Design challenges, truly showcasing their comprehensive engineering skills and innovative spirit.
Saudi Arabia's Digital App Market Thrives with Government Services and AI Leading the Charge by 2025
A new report, 'Saudi Internet 2025,' reveals that communication and government service apps are incredibly popular in the Kingdom. What's really exciting is the significant rise of AI applications, which are quickly becoming some of the most downloaded in Saudi Arabia.
Qudwa-Tech Boosts Women Entrepreneurs with AI Skills for Small Business Success
The Qudwa-Tech initiative is helping 330 women entrepreneurs learn how to use Artificial Intelligence for digital marketing and creating content. This training is all about boosting the growth and success of their small businesses.
Egypt's SOE Unit Teams Up with e-finance to Boost AI for Rashid System
Egypt's State-Owned Enterprises Unit (SOE Unit) has teamed up with e-finance in a new partnership. They'll work together to host and operate the digital infrastructure for the 'Rashid' system, which is a big step towards using AI to improve how state-owned companies are governed and managed.