Ejari upsizes Partners for Growth warehouse facility to $50M ahead of Series A
The REGA-licensed Saudi rent-now-pay-later company has fielded more than $500M in rent-facilitation requests across 40-plus cities.
RIYADH Updated By Hannaan Kirmani
Ejari
Saudi Arabia Proptech
Lead Partners for Growth
Quadrupling its debt warehouse to $50M before pricing a Series A shows a rent-financing model scaling on borrowed lines in a market shifting from annual cheques to monthly payments.
Source: Zawya ↗
RIYADH — Ejari, the Saudi rent-now-pay-later company, has upsized its warehouse facility with Partners for Growth to $50 million, or SAR 187.5 million, per a Zawya release.
Founded in 2022 and licensed by the Real Estate General Authority, Ejari lets tenants across more than 40 Saudi cities pay rent monthly while landlords receive the year's cheque upfront. The company says tenants have sent it more than $500 million in rent-facilitation requests. The Shariah-compliant Murabaha line was first established in 2024 as part of a $14.65 million debt-and-equity seed package, and Ejari is now entering commercial leasing. The release says a Series A is expected soon.
The read: scaling the debt line before pricing the equity round is the disciplined order for a lending business, and an upsize of this size says facility utilization is proving out. The open question is the Series A: debt funds growth, but equity prices the model. Watch who leads it and at what mark.
Source: Zawya ↗
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