Funding Rounds

Jeel Pay Secures SAR 25 Million in Pre-Series A Funding

Jeel Pay, a Saudi fintech company specializing in educational financing solutions, has announced the successful closure of its SAR 25 million Pre-Series A funding round. The round was led by JOA Capital, with participation from Aljazira Capital, aimed at supporting the company’s plans to expand and develop its digital solutions to meet the ever-evolving market needs.

Badr Aldugaish, Chief Technology Officer at Jeel Pay, emphasized the company’s focus on investing in digital solutions and attracting specialized talent to enhance operational efficiency and provide innovative financial services. He added:

“We aim to expand our partnerships with educational institutions and explore new financing solutions to launch innovative products that facilitate access to education through cutting-edge technology.”

Strategic Support from JOA Capital and Aljazira Capital

Yousef Alyousefi, CEO of JOA Capital, highlighted the importance of the education and financial services sectors and the role of digital platforms in delivering advanced educational and financial solutions. He noted that their investment in Jeel Pay represents a strategic step to support well-managed digital companies capable of integrating with major enterprises to achieve global reach.

Aljazira Capital praised Jeel Pay’s ambitious vision, noting that the “Study Now, Pay Later” model addresses a significant market gap, contributing to improved access to advanced educational opportunities for students.

Aligned with Saudi Vision 2030

This investment supports the objectives of Saudi Vision 2030 and the Saudi Central Bank’s initiatives to enhance financial inclusion and literacy in society. The JOA Capital team emphasized that this investment reflects their commitment to backing startups offering innovative solutions that empower future generations and drive growth in the financial sector.

A New Milestone for Expansion

Describing the funding round as a pivotal moment for Jeel Pay, Badr Al-Dughaysh stated:

“With the support of our strategic partners, we continue our efforts to develop advanced financing solutions that meet the evolving market needs, focusing on achieving financial inclusion and reinforcing education as a fundamental pillar of societal development.”

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