Riyadh, Saudi Arabia — Saudi fintech leader Jeel Pay has successfully secured SAR 25 million in its Pre-Series A funding round. Led by JOA Capital and supported by Aljazira Capital, the investment will drive Jeel Pay’s expansion and development of innovative digital solutions to meet evolving market needs.
Can Jeel Pay change Saudi education financing?
Jeel Pay focuses on empowering access to education through financial innovation. Chief Technology Officer Badr Aldugaish highlighted the company’s plans to develop advanced digital tools and recruit top-tier talent.
“We aim to expand partnerships with educational institutions and introduce innovative products that make education accessible through cutting-edge technology,” Aldugaish shared.
This forward-thinking approach ensures Jeel Pay continues to enhance its operational efficiency. Along with that, it is helping offer solutions that address gaps in educational financing.
Strategic Backing by Industry Leaders
The funding round garnered strong support from JOA Capital and Aljazira Capital, two key players in Saudi Arabia’s financial landscape.
Yousef Alyousefi, CEO of JOA Capital, emphasized the strategic role of education and digital financial platforms in societal progress. “Our investment in Jeel Pay reflects our commitment to supporting well-managed digital companies that can collaborate with major enterprises to achieve global reach,” Alyousefi noted.
Aljazira Capital praised Jeel Pay’s visionary “Study Now, Pay Later” model. This program bridges a significant market gap by enabling students to access quality education more easily.
Aligning with Saudi Vision 2030
Jeel Pay’s mission aligns seamlessly with Saudi Vision 2030 and the Saudi Central Bank’s initiatives to advance financial inclusion and literacy. Therefore, by driving innovation in financial services, Jeel Pay is playing a critical role in shaping a future-ready society.
JOA Capital reiterated its commitment to fostering startups like Jeel Pay that deliver transformative solutions, empowering future generations and contributing to the Kingdom’s economic growth.
Paving the Way for Growth and Impact
This funding marks a turning point for Jeel Pay, as it positions itself to redefine educational financing in Saudi Arabia. Aldugaish expressed optimism about the company’s journey ahead.
“With the backing of our strategic partners, we will continue to develop solutions that achieve financial inclusion and establish education as a cornerstone of societal development,” he said.
Jeel Pay’s innovative approach and strong support network make it a promising leader in the fintech space. Additionally, it has the potential to leave a lasting impact on education and economic progress in the region.
