Dubizzle Group Invests in Rental Rewards Platform Tern

Dubizzle Group is significantly expanding its influence in the property technology sector with a strategic investment in Tern, a nascent UAE-based startup. This move underscores the group's commitment to enhancing the rental experience through innovative financial solutions. The partnership will see Tern's platform integrated exclusively across Dubizzle Group's prominent property portals, Bayut and dubizzle, aiming to revolutionize how tenants manage rent payments.

Launched in early 2024 by founders Said Al Sayyed and Mohamad Shaitou, Tern positions itself as the UAE's inaugural rental rewards program. The platform empowers tenants to pay their monthly rent using credit cards without incurring additional fees, while simultaneously earning loyalty points. These points can then be redeemed across a diverse network of retail, travel, and lifestyle partners, effectively transforming a significant household expense into a rewarding experience. The company has already facilitated over AED 150 million in annualized rent payments, demonstrating rapid traction within its first year.

This investment, channeled through Dubizzle Group Ventures, the company's dedicated early-stage investment arm for GCC technology startups, aligns with Dubizzle Group's broader strategy to deepen its presence in the MENA region's property and automotive markets. The group has recently bolstered its portfolio with acquisitions such as Egypt's Hatla2ee, UAE automotive platform Drive Arabia, and real estate intelligence firm Property Monitor. The integration of Tern is expected to create a more cohesive and advantageous property ecosystem for all stakeholders, including tenants, landlords, and real estate agents.

Haider Ali Khan, CEO of Dubizzle Group UAE, highlighted the strategic rationale, stating, "Our focus extends beyond property discovery to addressing tangible challenges throughout the rental journey. Rent represents a substantial recurring cost for most households, yet the payment process has historically lacked flexibility and added value. Tern offers a compelling solution, spearheaded by an adept founding team." He further emphasized that this collaboration provides renters with a more convenient and beneficial payment method while opening new avenues for property owners and managers.

The financial services and fintech aspects of Tern's offering are particularly noteworthy. By enabling credit card payments for rent, the platform addresses a gap in the market where such transactions are often discouraged or penalized. The loyalty rewards component adds a significant value proposition, making rental payments more attractive. This innovation is particularly relevant in the UAE's dynamic real estate market, where efficient and rewarding transaction methods are increasingly sought after by a digitally-savvy population. The broader proptech market in the GCC is experiencing robust growth, driven by digital transformation initiatives and increasing demand for integrated property solutions.

Surya Raviganesh, leading Dubizzle Group's investment activities, commented on the synergy, noting, "We actively seek ambitious founders developing scalable, innovative business models that generate distinct value within our extensive marketplaces. With a substantial portion of the UAE population engaging with our platforms monthly, partnerships with businesses that can leverage our highly active user base present significant opportunities." The exclusive integration of Tern into Bayut and dubizzle, which collectively attract millions of monthly visits, is anticipated to accelerate Tern's growth and solidify Dubizzle Group's position as a central hub for property-related services in the region.