In a strategic move to enhance its property ecosystem, UAE-based Dubizzle Group has invested in Tern, the UAE's pioneering rental rewards platform. This partnership will see Tern integrated exclusively into Dubizzle and Bayut, allowing tenants to pay their rent via credit card while earning loyalty points at no additional cost. Founded in 2024 by Said Al Sayyed and Mohamad Shaitou, Tern has quickly emerged as a significant player in the UAE's proptech landscape, with an impressive AED 150 million in annualized rent payment volume. The platform aims to modernize rental payments by connecting tenants, landlords, and merchants through a multi-stakeholder loyalty network. Dubizzle Group's investment, made through its venture capital arm, reflects its commitment to fostering innovation within the GCC's technology sector, particularly in the property and automotive domains. This partnership not only enhances the rental experience for tenants but also provides landlords and agents with a more efficient digital rent collection system, ultimately driving greater engagement within the real estate market.
Source: Wamda
