Investment to Accelerate Growth and Digital Transformation in Real Estate
Rize, a leading Saudi proptech startup, has successfully closed a $35 million (SAR 132 million) Series A funding round, comprising a mix of equity and debt financing. The round was led by Raed Ventures, with participation from SEEDRA Ventures, Aqar Platform, JOA Capital, NAMA Ventures, and HALA Ventures. This significant investment underscores the growing confidence in Rize’s innovative approach to modernizing real estate leasing in Saudi Arabia.
Additionally, Rize has secured a debt financing partnership with Partners for Growth, further strengthening its financial position and enabling aggressive expansion across the Kingdom.
Rize is pioneering the “Rent Now, Pay Later” model in Saudi
Founded in 2021 by Ibrahim Balilah and Mohamed AlFraihi, Rize is Saudi Arabia’s first company to introduce the “Rent Now, Pay Later” (RNPL) model, offering tenants the flexibility to pay their rent in monthly installments rather than lump-sum payments. This model enhances affordability for tenants while boosting occupancy rates for property owners.
Since its launch, Rize has:
- Facilitated over SAR 500 million in total rental transactions
- Expanded its presence across Riyadh, the Eastern, and Western regions
- Developed cutting-edge leasing automation technologies to streamline the rental process
By integrating RNPL into Aqar Platform, Rize is set to redefine the leasing experience by offering seamless and flexible payment options to thousands of tenants.
Investor Confidence & Industry Impact
Ibrahim Balilah, Co-Founder & CEO of Rize, highlighted the strategic importance of this funding round:
“This investment marks a turning point in our journey, reaffirming our commitment to revolutionizing the leasing sector. We are dedicated to offering innovative, tech-driven solutions that enhance the rental experience for tenants and landlords alike.”
Mohamed Al-Furaihi, Co-Founder & CTO, added:
“Our focus has been on leveraging technology to fully automate leasing processes. This funding will further enhance our tech infrastructure, making renting more seamless and efficient.”
Strategic Investor Insights
Investors believe Rize is poised for massive growth, following in the footsteps of successful fintech players like Tabby and Tamara.
Omar Al-Majdouie, Co-Founder at Raed Ventures, stated:
“We see Rize as a game-changer in the real estate sector. Its commitment to innovation and digital transformation aligns perfectly with Saudi Arabia’s Vision 2030. We are proud to support their journey.”
Waleed Albarrak, Principal at SEEDRA Ventures, emphasized:
“Rize is reshaping the rental market, and its remarkable growth mirrors industry leaders. The strong investor backing reflects its incredible market potential.”
Future roadmap for Rize & expansion plans beyond Saudi
With this investment, Rize plans to:
- Expand its footprint across Saudi Arabia and beyond
- Enhance AI-driven leasing automation for a seamless tenant experience
- Strengthen partnerships with real estate platforms and landlords
- Contribute to Saudi Arabia’s digital transformation in real estate
As Saudi Arabia continues its real estate modernization efforts, Rize is positioned as a key driver in shaping the future of property leasing in the region.
About Rize
Rize is a Saudi-based proptech startup pioneering the Rent Now, Pay Later (RNPL) model, allowing tenants to pay rent in flexible installments. The company leverages technology to automate the leasing process, enhancing accessibility for both tenants and landlords.
