Saudi Arabia-based proptech Rize has secured a SAR 187.5 million ($50 million) asset-backed Murabaha facility from Jadwa Investment to finance its growing portfolio of residential rental contracts.
Founded in 2021 by Ibrahim Balilah and Mohammed Alfraihi, Rize operates a flexible rental payment platform that enables eligible tenants to divide their annual rent into 12 monthly payments, while landlords receive their agreed rent upfront.
Under Rize’s model, the company pays landlords in one or two payments through Saudi Arabia’s Ejar platform under a master lease agreement. The property is then subleased to the tenant, who makes monthly rental payments through Ejar.
Unlike an equity investment round, the new facility is specifically dedicated to financing Rize’s rental-contract portfolio. This allows the company to preserve shareholder capital for product development, technology, talent, partnerships and further expansion across Saudi Arabia.
The financing also gives Rize additional capacity to meet growing demand for monthly rental payment options without relying solely on equity capital to finance the underlying rental contracts.
Rize says more than 200,000 tenants have used its flexible rental solutions. Its network currently includes more than 3,000 landlords and 1,200 verified real estate brokers across Saudi Arabia.
The company previously closed a $35 million Series A round in January 2025, combining equity and debt financing. Its investors include SEEDRA Ventures, Raed Ventures, HALA Ventures, JOA Capital, Aqar Platform, Bunat Ventures, NAMA Ventures, Watheeq Financial and Razam Investment.
Rize estimates Saudi Arabia’s residential rental market at approximately SAR 150 billion annually and plans to use the additional financing capacity to expand its rental portfolio as demand for flexible payment structures continues to grow.
