Saudi Proptech Ejari Expands Rental Financing Facility to $50 Million

Saudi proptech and fintech startup Ejari has expanded its Shariah-compliant financing facility with California-based private credit provider Partners for Growth (PFG) to $50 million (SR 187.5 million), as it prepares to enter the commercial rental market.

The expanded Murabaha warehouse facility will finance transactions through Ejari's Rent Now, Pay Later platform, which allows landlords to receive annual rental payments upfront while tenants repay the amount in monthly instalments. The financing is backed by underlying rental contracts rather than being allocated to the company's general operations.

Founded in Riyadh in 2022, Ejari currently operates across more than 40 Saudi cities, combining rental financing with property discovery and move-in services. The company plans to extend its payment model to commercial leasing, targeting small and medium-sized enterprises seeking alternatives to large upfront rental payments.

The agreement builds on an existing financing relationship between Ejari and Partners for Growth established in 2024. While the new arrangement increases the facility's total capacity to $50 million, Ejari has not disclosed its previous size, how much financing has already been drawn or the repayment terms.

Ejari reports receiving requests to facilitate more than $500 million in rental payments, although this figure represents demand for its services rather than completed transactions or financing deployed.

Licensed by Saudi Arabia's Real Estate General Authority (REGA), Ejari documents rental contracts through the Ejar system. The startup also distributes its services through integrations with property platforms and other businesses, including Aqar, Wasalt, CompoundIn and ZenHR.