Saudi proptech company Rize has secured a SAR 187.5 million asset-backed Murabaha facility from Jadwa Investment, equivalent to USD 50 million. The financing will be used to support the company's growing portfolio of residential rental contracts across Saudi Arabia. The transaction reflects Rize's strategy of separating the capital used for rental portfolio funding from the equity that supports its corporate growth.
Financing Structure and Strategic Purpose
The facility is structured as an asset-backed Murabaha agreement dedicated specifically to financing Rize's rental contracts. By directing dedicated capital toward the underlying portfolio, the company can preserve shareholder equity for product development, technology, talent, partnerships, and expansion. This structure reduces reliance on shareholder capital to fund the rental agreements and supports more sustainable scaling.
How the Rental Platform Works
Founded in 2021 by Ibrahim Balilah and Mohammed Alfraihi, Rize operates a flexible rental payments model for residential leases. Eligible tenants can convert their annual rent into twelve monthly payments, while landlords receive the agreed rent upfront through one or two payments. Rize pays the landlord through Saudi Arabia's Ejar platform under a master lease contract before subleasing the property to the tenant, who pays monthly through the same platform.
Regulatory and Operational Foundation
The company states that this model does not constitute cash financing to the tenant. Rize is licensed by Saudi Arabia's Real Estate General Authority for electronic real estate brokerage, marketing, and property management. Its rental contracts are executed electronically through Ejar, ensuring regulatory alignment and operational transparency.
Market Opportunity and Company Traction
Rize estimates Saudi Arabia's residential rental market at approximately SAR 150 billion annually, with growing demand for alternative payment structures. The company reports that more than 200,000 tenants have used its flexible rental solutions, alongside more than 3,000 landlords and 1,200 verified real estate brokers. These figures highlight the platform's position in the Kingdom's residential rental ecosystem.
Investor Support and Funding History
The company is backed by investors including SEEDRA Ventures, Raed Ventures, HALA Ventures, JOA Capital, Aqar Platform, Bunat Ventures, NAMA Ventures, Watheeq Financial, and Razam Investment. In January 2025, Rize closed a Series A investment round worth USD 35 million in a mix of equity and debt. The new Murabaha facility builds on that foundation by adding dedicated asset-backed financing for the rental portfolio.
Leadership Perspective
Ibrahim Balilah, co-founder and chief executive officer of Rize, said the facility is particularly significant because it directly finances the rental portfolio. He explained that shareholder capital can therefore remain focused on product development, talent, and expansion. The arrangement is expected to strengthen Rize's ability to meet growing demand for flexible rental solutions across the Kingdom.
Future Growth Plans
Looking ahead, Rize plans to use the facility to expand its rental portfolio and meet demand for monthly rent payment options across Saudi Arabia. The company will continue to invest its equity capital in product development, technology, talent, partnerships, and broader geographic coverage. This dual approach is intended to support more of the residential rental lifecycle while maintaining portfolio growth.
The announcement signals a new phase of growth for Rize as it scales its flexible rental model across the Kingdom. By separating portfolio financing from corporate equity, the company can pursue product and technology development with greater financial clarity. The new facility positions Rize to serve more tenants, landlords, and brokers in Saudi Arabia's growing residential rental market.