Saudi Fintech TechMal Raises USD 1 Million in Successful Pre-Seed Round

TechMal, a specialist in rental property financing, has successfully completed its Pre-Seed investment round, raising SAR 3.75 million (USD 1 million). This round was led by Al Majdiah Investment Company, with additional participation from other investors.

Established in 2024, TechMal is a micro consumer finance company licensed by the Saudi Central Bank. The company seeks to innovate financial solutions for the residential rental market through its Ejar platform, which allows tenants to transform annual or semi-annual rent payments into manageable monthly installments.

Co-Founder Saud Abdullah Al-Rabdi expressed pride in the growing interest in the real estate finance sector, emphasizing the importance of having strategic partners who share TechMal’s vision. “This investment round reflects the increasing 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,” he said.

Source: EntArabi