Ejari | ايجاري, a Saudi-based rental tech startup, has successfully raised $14.65 million (SAR 55 million) in a seed financing round led by PFG and BECO Capital, with significant participation from Alinma Bank’s Alinma Pay, Rua Ventures, Vision Ventures (VV), and AQAR عقار platform, Saudi Arabia’s leading property listing service. The round includes a combination of debt and equity, with debt financing provided by California-based Partners for Growth.
The funding will be used to enhance Ejari's technology, expand its product offerings, and solidify its position as a leader in the residential Rent Now, Pay Later (RNPL) market in Saudi Arabia. Since launching less than a year ago, Ejari’s RNPL service has received over $30 million in demand and is now operational in 17 cities across 8 regions in the Kingdom. The startup aims to democratize access to the rental market, offering tenants flexible payment options in a market where 70% of rentals are typically paid on an annual or bi-annual basis.
Yazeed Al-Shamsi, Co-Founder and CEO of Ejari, expressed gratitude for the investors’ support, stating, “This marks a major milestone in our journey to transform the Saudi rental market. With this new investment, we’re poised to enhance our technology, expand our product offerings, and deliver exceptional value to our clients. Our mission is to democratize access to the rental market and lower barriers for tenants, and this funding brings us closer to that goal.”
The round also saw the participation of existing investor Salica Investments, reinforcing its confidence in Ejari’s growth potential. With the new investment, Ejari aims to increase its market share, strengthen its residential RNPL offerings, and position itself as the leading provider in the Saudi market.
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