Funding Alert

Saudi Arabia-based Munjz closes $5M series A round

• ByStartupStory     |    March 1, 2023

Saudi Arabia-based Munjz, a cloud-based platform for property and real estate management, raised a Series A investment worth $5 million (SAR 18.75 million). 

The funding round was led by an undisclosed investor working in the field of facilities management, hospitality, and tourism. It also saw participation from Wathiq Fund, Vision Venture, and Almajdiah Investment Company, as per a press release shared by Wamda.

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 specialised 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, as much as 4000 units on boarded and 75 active corporate accounts. Big names in the Saudi market onboarded such as Almajdiah Residence, McDonalds, 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 digitising 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.

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”.

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.

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.

 

 

 

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