Saudi proptech company Rize has secured a SAR 187.5 million asset-backed Murabaha facility, equivalent to $50 million, from Jadwa Investment. The financing is allocated to the residential rental contract portfolio managed by the company, rather than directly financing its corporate expansion.
Rize was founded in 2021 by Ibrahim Bilalila and Mohammed Al-Furaihi. It offers a model that allows eligible tenants to split the annual rent into 12 monthly payments, while the property owner receives the rent upfront. Contracts are documented electronically through Saudi Arabia’s Ejar platform.
Financing the Contract Portfolio Instead of Selling a Stake in the Company
The new facility differs from an equity investment round; it is intended to finance the contracts underpinning Rize’s operations. Under the announced structure, the company pays the owner the rent in one or two installments through Ejar, under a master lease agreement, and then subleases the property to the tenant, who pays the amount monthly through the platform.
Rize explains that this arrangement does not constitute an upfront cash advance to the tenant. In practice, however, it gives the company greater capacity to finance new contracts without relying entirely on shareholders’ capital to cover the rental portfolio.
What Changes in Practice?
The company says that separating rental portfolio financing from financing for its core business allows it to keep investment capital directed toward product and technology development, talent acquisition, partnership building, and expansion within Saudi Arabia. Thus, the facility targets a specific aspect of the business model: providing the liquidity needed to pay rents upfront, rather than replacing investment allocated to platform growth.
The move follows Rize’s closing of a $35 million Series A round in January 2025, comprising a mix of equity and debt. The company’s backers include SEEDRA Ventures, Raed Ventures, HALA Ventures, JOA Capital, Aqar Platform, Bunat Ventures, NAMA Ventures, Watheeq Financial, and Razam Investment.
Operating Scale and Disclosed Limitations
Rize says that more than 200,000 tenants have used its flexible rental solutions, and that its network includes more than 3,000 property owners and 1,200 verified real estate brokers. The company also offers its monthly payment model across Saudi Arabia and is licensed by the General Real Estate Authority to conduct brokerage, electronic real estate marketing, and property management activities.
The company estimates the Saudi residential rental market at approximately SAR 150 billion annually and intends to use the additional financing capacity to expand its portfolio as demand for rent payment alternatives increases. However, the source does not clarify the facility’s cost, term, repayment conditions, or the portfolio’s profitability and default indicators; therefore, the announcement alone is insufficient to assess the financing’s ultimate financial impact or the sustainability of growth.