{"id":83262,"date":"2024-02-08T00:00:00","date_gmt":"2024-02-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/"},"modified":"2024-02-08T00:00:00","modified_gmt":"2024-02-08T00:00:00","slug":"rent-now-pay-later-outfit-rize-closes-a-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/rent-now-pay-later-outfit-rize-closes-a-seed-round\/","title":{"rendered":"Rent now, pay later outfit Rize closes a seed round"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"> <strong>Rent now pay later<\/strong><strong><a target=\"_blank\" href=\"https:\/\/rize.sa\/en\/\" style=\"\" rel=\"noopener\">Rize<\/a><\/strong><strong> has raised USD 2.9 mn in a seed funding round<\/strong> with participation from our friends at <a target=\"_blank\" href=\"https:\/\/seedra.com\/\" style=\"\" rel=\"noopener\">Seedra Ventures<\/a> as well as <a target=\"_blank\" href=\"https:\/\/www.hala.vc\/\" style=\"\" rel=\"noopener\">Hala Ventures<\/a>, <a target=\"_blank\" href=\"https:\/\/www.joa.capital\/\" style=\"\" rel=\"noopener\">JOA Capital<\/a>, <a target=\"_blank\" href=\"https:\/\/rzm.com.sa\/en\/\" style=\"\" rel=\"noopener\">RZM Investments<\/a>, <a target=\"_blank\" href=\"https:\/\/bunat.vc\/\" style=\"\" rel=\"noopener\">Bunat Ventures<\/a>, and <a target=\"_blank\" href=\"https:\/\/www.namaventures.com\/\" style=\"\" rel=\"noopener\">Nama Ventures<\/a>, along with a group of unnamed angel investors<strong>,<\/strong> it said in <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/2\/606.pdf\" style=\"\" rel=\"noopener\">press release<\/a>. The company has also secured an undisclosed amount of debt financing from unnamed lenders.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Meet Rize: <\/strong>The proptech company was founded in 2021 by <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/ibalilah\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Ibrahim Balilah<\/a> and <a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alfraihi\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">Mohammed<\/a><a target=\"_blank\" href=\"https:\/\/www.linkedin.com\/in\/alfraihi\/?originalSubdomain=sa\" style=\"\" rel=\"noopener\">AlFraihi<\/a> to streamline property interactions, claiming to make rental processes efficient and more tenant-friendly. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>What they said:<\/strong> \u201cWe aspire to make monthly payments the standard in residential and commercial leases, and with this investment and the remarkable growth of the Ejar platform, we will be able to expand further across the Kingdom,\" said Balilah and Alfraihi.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Proptech company has ambitions to grow nationwide<\/p>\n","protected":false},"author":1,"featured_media":83263,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2556],"tags":[984,10,981,982,727,979,980,983,614,179],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83262","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-bunat-ventures","tag-enterpriseam-ksa","tag-hala-ventures","tag-joa-capital","tag-nama-ventures","tag-proptech","tag-rize","tag-rzm-investments","tag-seedra-ventures","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"cbfd661f-83a6-495d-b135-129634c30f4f","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/2\/668.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Rent now, pay later startup Rize closes a seed round with proceeds earmarked for local expansion","related_issue":[83243],"teaser":"Proptech company has ambitions to grow nationwide","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.083cb786-e311-4f20-9c08-b292a32badf4.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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