Riyadh - Sharikat Mubasher: Saudi TechMal, the company that specializes in offering real estate rental financing solutions, announced that it secured SAR 3.75 million ($1 million) in a pre-seed funding round led by Al Majdiah Investment and other investors.

On this occasion, Saoud Abdullah Al Reedy, co-founder of Tech Mal said: “This round reflects the big interest of investors in the real estate finance market with all its kinds. We’d like to express our pride for strategic partners who joined us in supporting our path in this sector”.

On his part, Bassel Saleh Al Sahaibany, co-founder of Tech Mal added: “With Tech Mal focusing on residential rentals and a pioneering real estate partner joining our playground in its very primal stages, this shall help us serve the sector better and focus on its detailed needs”.

Meanwhile, Nasser Al Majed, CEO of Al Majdiah Investment, asserted: “The residential rentals market is witnessing rapid growth in the Saudi Kingdom. With Tech Mal platform, paying monthly rents has made it easier for tenants and lessors to pay and receive sums of money through safe instruments and flexible solutions, so, we’d like to express our delight in being a part of such a partnership”.