Fintech company Rize from Saudi Arabia secures a total of $35 million through both debt and equity investments, destined for their 'Now Pay Later' rental platform.

======================================================================================

Saudi Arabia's proptech startup, Rize, is revolutionising the rental payments sector with its innovative "Rent Now, Pay Later" (RNPL) service. The company, founded in 2021 by Ibrahim Balilah and Mohamed Al-Frahi, has recently secured a significant boost with a $35 million Series A funding round.

The funding round was led by Raed Ventures, with participation from SEEDRA Ventures, Aqar Platform, JOA Capital, NAMA Ventures, and HALA Ventures. Additionally, U.S.-based private-credit firm Partners for Growth provided the debt portion of the funding. This investment marks a strong vote of confidence in Rize's vision to transform the leasing sector.

Ibrahim Balilah, Co-Founder and CEO of Rize, expressed his excitement, stating, "This investment reflects investors' confidence in our company's vision to develop the leasing sector."

In partnership with Aqar Platform, Rize is integrating its RNPL solution into their platform, enabling tenants to pay their annual rent in monthly installments. Since its inception, Rize has processed rental transactions worth over SAR 500 million.

Rize currently focuses on the Riyadh region but has ambitious plans to expand to the Eastern and Western regions of Saudi Arabia. This move aligns with Saudi Vision 2030, a regional economic initiative aimed at transforming the economy.

The strategic financing and partnerships enable Rize to access flexible, minimally dilutive capital tailored to its growth trajectory, helping it expand without significantly diluting ownership. This approach reflects a trend where innovative financing is being leveraged to fuel expansion while preserving founder control.

While specific expansion plans beyond this funding arrangement are not yet disclosed, the investment indicates a focus on accelerating growth and scaling the existing rent payment platform, strengthening its footprint within Saudi Arabia, and potentially expanding into the wider GCC region. The funding also aligns with the broader push in Saudi Arabia to develop its proptech sector as part of transformative economic reforms under Vision 2030.

In conclusion, Rize's growth strategy relies heavily on innovative capital solutions and strategic networks within the Gulf innovation ecosystem to advance its proptech rent payment service and prepare for future expansion opportunities. As a pioneer in the RNPL sector, Rize is poised to lead the way in transforming the rental payments landscape in Saudi Arabia and beyond.

[1] Raed Ventures, SEEDRA Ventures, Aqar Platform, JOA Capital, NAMA Ventures, and HALA Ventures invest in Rize. [2] Rize secures $35 million Series A funding round. [3] Partners for Growth provides debt portion of the funding. [4] Rize is the first 'Rent Now, Pay Later' (RNPL) service provider. [5] Rize processes rental transactions worth over SAR 500 million since its inception. [6] Ibrahim Balilah, Co-Founder and CEO of Rize, states that the investment reflects investors' confidence in the company's vision to develop the leasing sector. [7] Rize plans to expand to the Eastern and Western regions of Saudi Arabia. [8] The investment aligns with Saudi Vision 2030, a regional economic initiative aimed at transforming the economy. [9] The strategic financing and partnerships enable Rize to access flexible, minimally dilutive capital tailored to its growth trajectory. [10] The funding indicates a focus on accelerating growth and scaling the existing rent payment platform, strengthening its footprint within Saudi Arabia, and potentially expanding into the wider GCC region. [11] The funding also aligns with the broader push in Saudi Arabia to develop its proptech sector as part of transformative economic reforms under Vision 2030. [12] Rize's growth strategy relies heavily on innovative capital solutions and strategic networks within the Gulf innovation ecosystem to advance its proptech rent payment service and prepare for future expansion opportunities. [13] As a pioneer in the RNPL sector, Rize is poised to lead the way in transforming the rental payments landscape in Saudi Arabia and beyond.