TechMal, a company specializing in rental property financing solutions, announced the successful completion of its Pre-Seed investment round, raising SAR 3.75 million (equivalent to USD 1 million). The round was led by Al Majdiah Investment Company, with participation from other investors.
Founded in 2024, TechMal is a micro consumer finance company licensed by the Saudi Central Bank. The company aims to offer innovative financial solutions for the residential rental sector through the Ejar platform, enabling tenants to convert annual or semi-annual rent payments into affordable monthly installments.
Commenting on this achievement, Saud Abdullah Al-Rabdi, Co-Founder of TechMal, said, “This investment round reflects the growing interest in the real estate finance sector. We are proud to have strategic partners who support our vision and contribute to our success in this vital industry.”
Basel Saleh Al-Suhaibani, Co-Founder of TechMal, added, “TechMal’s focus on the residential rental sector, along with the inclusion of a leading real estate partner in our early stages, will enable us to provide comprehensive and efficient solutions that meet the sector’s needs with precision.”
Nasser Abdulrahman Al-Majed, CEO of Al Majdiah Investment Company, highlighted the rapid growth of the residential rental market in the Kingdom. He said, “The TechMal platform offers flexible and secure methods for facilitating monthly rent payments, helping tenants and landlords easily meet their financial obligations. We are delighted to be part of this promising partnership.”
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