Ejari Expands Credit Facility with Partners for Growth to $50 Million to Support Commercial Leasing Expansion
Ejari, the Saudi rent-now-pay-later company, has expanded its credit facility with Partners for Growth (PFG) to $50 million, strengthening its financing capacity as it prepares to extend its business beyond residential rentals into commercial leasing, particularly for small and medium-sized enterprises (SMEs).
The Sharia-compliant facility builds on an existing financing arrangement established in 2024. Under its structure, Ejari pays landlords upfront while collecting monthly instalments from tenants. The company is also progressing towards a separate Series A equity financing round to support its broader growth plans.
Ejari currently operates across more than 40 cities in Saudi Arabia and has received requests to facilitate over $500 million in rental payments. The figure represents applications submitted for the company's service, rather than the value of rentals actually financed or revenue generated by the business.
“This upsize builds on our relationship with PFG and supports our next phase of growth in residential rentals and entry into commercial leasing,” said Yazeed Al-Shamsi, co-founder and chief executive.
“People across the Kingdom keep moving, working and needing homes. This upsize supports our ability to serve more of them, deepen our presence across more than 40 cities and lay the groundwork for extending our model into commercial leasing for SMEs.”
Founded in Riyadh in 2022, Ejari addresses the gap between tenants' monthly salaries and landlords' traditional rental collection schedules, which typically require payments annually or every six months. Its business model allows tenants to spread rental obligations across monthly payments in exchange for a fee.
According to the company's published pricing, the fee for a 12-month contract stands at 15% of the rental value when the landlord receives a single upfront payment and the tenant pays monthly. Lower fees are available under alternative payment schedules.
The model requires substantial capital to bridge the period between upfront payments to landlords and the subsequent collection of monthly instalments from tenants. The expanded warehouse credit facility provides the necessary funding for rental transactions, while equity financing supports the company's team, technology and development of additional services.
“The facility is structured to provide dedicated capital for Ejari’s continued growth in residential rentals and its planned entry into commercial leasing,” said Armineh Baghoomian, managing director and head of Europe, the Middle East and Africa at PFG, where she also co-heads global fintech.
Ejari's relationship with the California-based lender began with a $14.65 million debt-and-equity seed financing round in October 2024. Its equity investors include BECO Capital, Vision Ventures, anb seed, Alinma Pay, Rua Growth Fund, Salica Oryx Fund, Aqar and Sanabil 500 MENA. The company expects to close its Series A round soon, although it has not disclosed the fundraising amount or participating investors.
Private credit is also playing an increasingly important role in financing competing Saudi rental platforms. Rize, which raised $35 million through a debt-and-equity Series A round, secured a separate $50 million rental-financing facility from Jadwa Investment in September. Meanwhile, property marketplace Aqar offers access to both companies' services, integrating monthly payment options into the property-search process.
The expansion comes amid regulatory measures by Saudi authorities to address housing costs. In September 2025, the Kingdom introduced a five-year freeze on residential and commercial rent increases within Riyadh's urban boundaries. While the measure restricts rental increases, it does not eliminate the upfront payment obligations faced by tenants, leaving room for companies such as Ejari and Rize to offer solutions that distribute rental payments throughout the year.
