Proptech Rize Secures $35 Million to Expand Across Saudi Arabia
Rize secures Series A funding, led by Raed Ventures, to expand its RNPL model and revolutionize real estate leasing.
Jan 20, 2025
Rize, a Saudi-based real estate technology company, has secured $35 million in a Series A funding round led by Raed Ventures. Other participants include SEEDRA Ventures, Aqara Platform, JOA Capital, NAMA Ventures and HALA Ventures.
Founded in 2021 by Ibrahim Balilah and Mohamed Al-Frahi, Rize offers a 'Rent Now, Pay Later' (RNPL) model that allows tenants to pay annual rents in flexible monthly installments. The company has facilitated over half a billion riyal in total rental value through its platform.
This latest round of funding will fuel Rize's expansion in Saudi Arabia, with plans to grow in the Western and Eastern regions while strengthening its presence in Riyadh. The company also intends to develop advanced technological solutions to automate leasing processes via its app.
In addition, Rize has entered a debt-financing partnership with Partners for Growth to support its growth and expansion plans. The RNPL service will also launch on Aqara Platform, offering tenants enhanced payment flexibility and integrated solutions for leasing.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CairoScene
15 hours ago
- CairoScene
London-Based Pinsent Masons Expands With New Riyadh Law Firm
The new office marks its fourth location in the Middle East and will focus on transactional legal services. Pinsent Masons has opened an office in Riyadh, marking its fourth location in the Middle East after Dubai, Abu Dhabi and Doha. The new office, which began operations in the beginning of March, is led by Ibrahim Alajaji, a project finance and construction specialist who was previously a partner at Alsabhan & Alajaji. While Pinsent Masons and Alsabhan & Alajaji will now operate independently, the firms will continue their exclusive collaboration, first established in 2018. Alsabhan & Alajaji will focus on local court matters and legislative drafting under the leadership of Naif Alsabhan, while Pinsent Masons Saudi Arabia will focus on transactional legal services. The Riyadh office includes partners Rena Scott, who joined last year from Orrick to lead the firm's Saudi construction advisory and disputes practice, and Tim Armsby, who heads the firm's Middle East finance and projects division. Both Armsby and Alajaji have advised Saudi Arabia's National Centre for Privatisation, which oversees public-private partnerships and government entity privatisations. The new structure is anticipated to allow Pinsent Masons' to further serve clients in the Saudi market and offer opportunities for young Saudi lawyers to gain experience in high-value transactions and complex legal matters. The move follows Saudi Arabia's 2023 legal market reforms, which allow foreign firms to establish their own operations in the Kingdom. These changes have prompted several international law firms to enter or expand their presence in Saudi Arabia, including Clifford Chance, Latham & Watkins, and Addleshaw Goddard.
CairoScene
a day ago
- CairoScene
Green Roofs to Riyadh's Deepest Metro: Schaduf's Journey into Saudi
Inside the landscape firm's most complex project to date: a 36-metre-deep green wall at Qasr Al Hukm metro station. When Sherif Hosni, Co-Founder of Cairo-based landscape firm Schaduf, talks about Qasr Al Hukm, there's a noticeable pause before he calls it what it is: the flagship. 'It's the biggest project we've completed,' he tells SceneHome. Schaduf began with a shared passion for sustainability—specifically, green roofs—and grew from there. But over time, one thing became clear: Saudi was the biggest market. It wasn't easy. Establishing a business presence in the Kingdom came with its own set of hurdles. But a strategic partnership in 2018 helped unlock the opportunity, and by 2022, Schaduf had opened a formal office in Saudi Arabia—just in time to take on its largest challenge yet. Qasr Al Hukm is one of Riyadh's main metro stations, part of the city's broader infrastructure transformation. At its core is a green wall designed and executed entirely by Schaduf—spanning 36 metres underground. Unlike earlier projects where Schaduf might have handed over execution to a local partner, this time they did it all themselves—from design to installation. They now oversee maintenance and operations, too. Today, Qasr Al Hukm represents more than just a completed project. It's proof of capability. And it marks the beginning of Schaduf's regional expansion.
See - Sada Elbalad
2 days ago
- See - Sada Elbalad
Russia Cuts Interest Rates by 100 Basis-point for First Time since 2022
Taarek Refaat The Central Bank of Russia cut interest rates to 20%, the first cut since September 2022, amid signs of easing inflationary pressures. The Bank of Russia cut interest rates by 100 basis points, after having held them steady at 21% since last October, the highest level since the adoption of the new benchmark interest rate in 2013. Inflation in April reached 6.2%, a marked slowdown from an average of 8.2% in the first quarter of 2025, according to Central Bank data. The Bank of Russia confirmed in its statement that although domestic demand still exceeds supply, the Russian economy is gradually returning to a balanced growth path. The Bank added that monetary policy will remain tight for a "prolonged period" until inflation returns to its 4% target. The Russian-Ukrainian war, which erupted in February 2022, has led to severe economic pressures, most notably the weakness of the Russian ruble and rising import prices. Since then, Moscow has reoriented its economy to meet the challenges of war and Western sanctions. There were hopes at the beginning of the year that US President Donald Trump could broker a ceasefire or even end the war, but fighting continues on the ground. Despite everything, the rouble is currently the best-performing currency in the world this year, according to Bank of America, due to a combination of capital controls, tighter monetary policy, and a weaker US dollar. It's worth noting that with the interest rate cut announcement, the US dollar rose 2.72% against the rouble on Friday. (USD/Rouble = 78.56) read more CBE: Deposits in Local Currency Hit EGP 5.25 Trillion Morocco Plans to Spend $1 Billion to Mitigate Drought Effect Gov't Approves Final Version of State Ownership Policy Document Egypt's Economy Expected to Grow 5% by the end of 2022/23- Minister Qatar Agrees to Supply Germany with LNG for 15 Years Business Oil Prices Descend amid Anticipation of Additional US Strategic Petroleum Reserves Business Suez Canal Records $704 Million, Historically Highest Monthly Revenue Business Egypt's Stock Exchange Earns EGP 4.9 Billion on Tuesday Business Wheat delivery season commences on April 15 News China Launches Largest Ever Aircraft Carrier Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Lifestyle Get to Know 2025 Eid Al Adha Prayer Times in Egypt Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
