JeelPay Secures $6.6 Million in Pre-Series A Funding
Deal News | Jan 07, 2025 | Zawya
Saudi fintech company JeelPay, which specializes in Buy Now, Pay Later (BNPL) services for education financing, has successfully raised SAR 25 million ($6.6 million) in a Pre-Series A investment round led by Joa Capital, AlJazira Capital, and other angel investors. The capital will bolster JeelPay's expansion efforts, enable the development of new financing solutions, and facilitate collaborations with educational institutions. The funding underscores investors' growing interest in the thriving startup ecosystem within the GCC. Additionally, another regional startup, Calo, has secured SAR 94 million in a Series B funding round with plans to launch an IPO in Saudi Arabia by 2027.
Sectors
- Fintech
- Education Technology
Geography
- Saudi Arabia – JeelPay is a Saudi Arabian company, and the investment round was notably influenced by investors interested in the region's growing startup community.
- Middle East – The broader regional interest, indicated by the mentioned investment activities, highlights the GCC as a burgeoning hub for startups.
Industry
- Fintech – JeelPay operates within the fintech industry, providing Buy Now, Pay Later services focused on educational financing.
- Education Technology – JeelPay's services focus on facilitating educational financing, placing it within the education technology sector.
Financials
- $6.6 million – The amount raised by JeelPay in its Pre-Series A funding round.
- SAR 94 million – The amount raised by Calo in its Series B funding round.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| JeelPay | Target Company | Company | A Saudi fintech company specializing in Buy Now, Pay Later services for educational financing. |
| Joa Capital | Investor | Company | One of the lead investors in JeelPay's Pre-Series A funding round. |
| AlJazira Capital | Investor | Company | A key investor in the Pre-Series A funding round for JeelPay. |
| Calo | Other Company | Company | A food tech startup in the Middle East mentioned in the context of growing investor interest in the region's startups. |
| Cleofe Maceda | Writer | Person | The journalist who wrote the article. |
| Seban Scaria | Editor | Person | The editor of the article. |