STARTUP OVERVIEW
Rize, established in 2021 by Ibrahim Balilah and Mohammed AlFraihi, is on a mission to reshape the rental landscape in Saudi Arabia. With their pioneering “Rent Now..Pay Later” solution, they’re challenging the conventional rental norms by providing tenants with the flexibility to pay their rent in convenient monthly installments, rather than upfront lump sums. This innovative approach not only enhances financial flexibility for tenants but also addresses common pain points in the rental process, making renting more accessible and convenient for everyone involved.
MAJOR ACHIEVEMENTS
- Launching their innovative “Rent Now..Pay Later” product, the company aims to make the shift of rental payments to flexible monthly installments.
- “Rize” has achieved a significant milestone by closing its seed round, raising $2.9 million. The company also secured additional funds through debt financing to enhance its investments in real estate. Major investors in this round include HALA Ventures, SEEDRA Ventures, JOA Capital, RZM Investments, Bunat Ventures, Nama Ventures, and a group of angel investors.
Founders
Year established:
2021
Headquarters:
Saudi Arabia