Ejari expands its PFG financing facility to $50 million
Ejari raised its Murabaha facility with Partners for Growth to $50 million to fund its Rent Now, Pay Later service.
Ejari, a Riyadh-based proptech and fintech company, expanded its financing facility with Partners for Growth (PFG) to $50 million (SAR 187.5 million).
- Type: An asset-backed, Shariah-compliant Murabaha warehouse facility
- Lender: PFG, a California-based private credit provider; the relationship began in 2024
- Use: Funding rental transactions through Ejari's Rent Now, Pay Later service, where the landlord receives the annual rent upfront and the tenant pays monthly
- Footprint: More than 40 Saudi cities, with plans to expand into commercial leasing
The company expects to close a Series A round, amount not disclosed. Existing investors include BECO Capital, Vision Ventures, anb seed, Alinma Pay, Rua Growth Fund, Salica Oryx Fund, Aqar and Sanabil 500 MENA. Ejari was founded in 2022.
What it means for founders in Saudi
Ejari separates two kinds of money: debt funds the transactions themselves, while equity funds the team and technology. That split lets a founder grow lending volume without giving up much ownership, a model worth studying for any lending-based fintech.
