Saudi Arabian proptech startup Rize has raised $2.9 million in a seed funding round led by SEEDRA Ventures and HALA Ventures. The round also attracted participation from Joa Capital, RZM Investment, Bunat Ventures, Nama Ventures, and a group of angel investors.
Founded in 2021 by Ibrahim Balila and Mohammed Al-Farihi, Rize operates in the property technology sector with a focus on rental payments. The company offers a "Rent Now, Pay Later" solution that enables tenants to divide rental costs into monthly installments instead of making large upfront payments.
Rize aims to simplify the rental experience for both residential and commercial tenants across Saudi Arabia. Through its platform, renters can access more flexible payment options while property owners continue to receive rent according to agreed terms.
The company is working to encourage wider adoption of monthly rent payments in the Kingdom, a market where advance rental payments have traditionally been common.
According to the company, the new capital will be used to expand its operations across Saudi Arabia and further develop its technology platform.
Rize also plans to strengthen its integration with the Kingdom's real estate ecosystem by leveraging the infrastructure of Ejar, Saudi Arabia's government-backed rental services platform.
The latest investment comes as proptech companies across the Middle East continue to explore digital solutions that improve accessibility, efficiency, and flexibility in real estate transactions.
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