Saudi fintech company JeelPay announced securing $6.6 million (SAR 25 million) in a Pre-Series A funding round.
Joa Capital, AlJazira Capital and other angel investors participated in the startup’s latest funding round.
The fresh capital is to be deployed for funding the company’s expansion plans.
The Buy Now, Pay Later (BNPL) firm, which provides education financing, is one of the latest businesses to attract significant interest from investors looking to cash in on the GCC’s growing start-up community.
Middle East food tech start-up Calo has recently raised SAR 94 million in a Series B funding round.
The firm intends to launch an initial public offering (IPO) in Saudi Arabia by 2027.
Through its “study now, pay later” scheme, JeelPay enables parents to fund upfront their child’s tuition.
JeelPay is also looking to develop new financing solutions and collaborate with institutions in the education sector.
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