Ejari Upsizes PFG Warehouse Facility to $50 Million
- Ejari has upsized its Shariah-compliant Murabaha warehouse facility with Partners for Growth (PFG) to provide financing to $50 million (SAR 187.5 million).
- The upsize supports continued residential growth across more than 40 Saudi cities and Ejari's planned entry into commercial leasing.
- The announcement comes as Ejari expects to close its Series A soon.
Ejari, the Saudi proptech and fintech platform that provides a Rent Now, Pay Later solution to Saudi Arabia's rental market, enabling tenants to pay their annual rent monthly, announced an upsize of its existing Shariah-compliant Murabaha warehouse financing facility with California-based private credit provider Partners for Growth (PFG). The expanded facility provides for financing of up to $50 million (SAR 187.5 million).
Building on a financing relationship established in 2024, the upsize supports Ejari's continued growth in residential rentals, where it now serves tenants and landlords across more than 40 cities in Saudi Arabia, and preparations for its planned entry into commercial leasing.
The warehouse structure provides dedicated financing for the rental transactions behind Ejari's Rent Now, Pay Later where landlords receive their annual rent upfront, while tenants pay monthly. Expanding this warehouse funding supports Ejari's ability to grow its rental portfolio alongside its technology and services.
Ejari operates in a Saudi rental market with estimated annual transaction volumes exceeding $60 billion, with strong underlying demand reflected in rental transactions rising 37% year-on-year to approximately 446,300 in August 2026, while total transaction value increased 32% to SAR 10.62 billion ($2.83 billion). Despite this growth, large annual and semi-annual rent payments remain a challenge for tenants whose incomes arrive monthly, limiting housing choices and financial flexibility.
At the same time, rents continue to put pressure on household finances, with housing rents rising 3.5% year-on-year in September 2026, nearly double headline inflation of 1.9%. Rental pressures have been particularly pronounced in major cities, with Riyadh apartment rents rising 76% between early 2023 and their peak in late 2025.
Against this backdrop, Ejari has received requests to facilitate more than $500 million in rent, reflecting significant demand for flexible payment solutions that offer an alternative to traditional upfront rental payments.
Yazeed Al-Shamsi, Co-Founder and CEO of Ejari, said:
“This upsize builds on our relationship with PFG and supports our next phase of growth in residential rentals and entry into commercial leasing. Our focus is on serving more tenants and landlords while maintaining the discipline behind our model and making the rental experience work better from start to finish.
PFG's decision to expand our facility at a time of regional uncertainty reflects confidence in the resilience of Saudi Arabia's rental market and the discipline of our portfolio. People across the Kingdom keep moving, working and needing homes. This upsize supports our ability to serve more of them, deepen our presence across more than 40 cities and lay the groundwork for extending our model into commercial leasing for SMEs.”
Armineh Baghoomian, Managing Director, Head of Europe, Middle East & Africa, Co-Head of Global Fintech at Partners for Growth, said:
“Since 2024, we have worked closely with Yazeed and the Ejari team as they have built a differentiated platform for tenants and landlords across Saudi Arabia. This upsized warehouse facility reflects our approach to providing tailored financing. The facility is structured to provide dedicated capital for Ejari's continued growth in residential rentals and its planned entry into commercial leasing.”
Alongside its Rent Now, Pay Later service, Ejari is building a broader platform around the rental experience. Tenants can use Ejari to find their next home and access monthly rental payments through property platforms, residential compounds and HR applications. Partnerships with Aqar, Wasalt, CompoundIn and ZenHR bring the service into the channels people already use to find housing and manage their working lives.
The Ejari app also provides access to partner services across insurance, storage, moving and lifestyle services. These complementary services extend Ejari's role beyond the rent payment itself, addressing a broader range of tenants' needs throughout their rental journey when finding a home, moving in and settling into it.
The announcement comes as Ejari expects to close its Series A soon. Equity investment supports the technology, team and services behind the business, while warehouse financing supports the rental transactions themselves. Developing both is central to Ejari's ability to scale.
Ejari's existing equity investors include BECO Capital, Vision Ventures, anb seed, Alinma Pay, Rua Growth Fund, Salica Oryx Fund, Aqar and Sanabil 500 MENA, alongside its debt financing relationship with PFG.
The company's next phase will focus on growing its residential business, preparing its commercial offering and continuing to connect the financing and services that make renting more flexible across Saudi Arabia.
About Ejari
Founded in 2022 and headquartered in Riyadh, Ejari is a REGA-licensed Saudi proptech and fintech company. It enables tenants to pay rent monthly while landlords receive the annual rent upfront, with rental contracts documented through Ejar. Its offering combines rental financing, property search and access to partner services to support tenants and landlords across the rental journey.
About Partners for Growth
Partners for Growth (PFG) is a California-based private credit provider offering tailored growth debt and asset-backed financing to companies worldwide.