• Saudi Arabia-based proptech Darent has raised $1 million in a pre-Seed round led by Watheeq Proptech Venture with the participation of other investors.
• Founded in 2021 by Hanin Al-Subaie, Darent is a property management tool for rental properties that allows owners to list their units on the platform, connecting them to tenants.
• Darent will use the funds to support its expansion and growth locally and regionally, and will further develop its technology ecosystem by providing more comprehensive solutions for tourists and travellers.

Press release:

Darent, daily housing and property management platform raised $1 million in a pre-seed round led by Watheeq Proptech Venture with the participation of other investors.

Founded in 2021 by Hanin Al-Subaie, Darent is a tech startup in the tourism and hospitality sector. It provides a daily local living experience and real estate property management on behalf of the owners and enables residents to list their properties on the platform for daily rental.

“Darent seeks to contribute effectively to this sector by providing a unique travel experience for tourists which maintains the customs and traditions of the local community. As we are striving to provide a variety of residential spaces that meet the needs and requirements of various tourist groups, on one hand, we are keen on creating a safe investment opportunity for our hosts, on the other hand, along with the guidance needed to market their units in the best way possible to achieve excellent additional income at fair rates,” Hanin Al-Subaie, Founder and CEO of Darent, said.

The startup aims to link local and foreign tourists with local residents by providing daily rental options and strives to be the destination and guide for backpackers and travellers who are looking for a journey through which they will live and experience the daily lives of the locals.

Darent will be using the funds of the current round to support its expansion and growth locally and regionally, and will further develop its technology ecosystem by providing more comprehensive solutions for tourists and travellers.

“The tourism sector has always been a critical pillar of the Kingdome Vision 2030, and we are pleased to lead the current round and invest in Darent. We are proud that the first investment opportunity for our fund was founded and managed by a Saudi female entrepreneur. The growth achieved by the company in a short period is evidence of the strength of the team and the comprehensive knowledge of the sector, which will enable the company to expand regionally and compete in global markets,” Khaled Zidan, Managing Partner of Watheeq Proptech Venture, said.