Riyadh – Sharikat Mubasher: JeelPay, a leading fintech and provider of educational financing solutions, announced the closure of a Pre-Series A investment round valued at SAR 25 million, led by JOA Capital, with participation from Aljazira Capital and other angel investors.
The investment will support JeelPay’s expansion capabilities and further the development of its digital services in line with market needs, according to a press release.
Badr Al-Daghish, CEO of JeelPay, stated that investment in digital solutions and attracting specialized talent are key pillars in the company’s future expansion plans. He explained that these plans aim to increase operational efficiency and offer innovative financial solutions that meet customer expectations and align with developments in the financial sector.
Yousef Alyousefi, CEO at JOA Capital, emphasized the importance of both the education and financial services sectors and the role digital platforms play to provide advanced educational and financial solutions.
The JOA Capital team noted that their investment in JeelPay is a strategic step within the vision of their investment fund, which aims to support leading digital companies with exceptional management teams who are capable of collaborating with major enterprises to achieve integration, maximize success opportunities, and expand globally.
They also pointed out that this investment aligns with the goals of Saudi Arabia’s Vision 2030 and the initiatives of the Saudi Central Bank to promote financial inclusion and financial literacy within society.
Aljazira Capital team also expressed confidence in JeelPay’s vision and ambitious management, affirming that the “Study Now, Pay Later” model provides an innovative solution to a critical gap in the market and helps facilitate students’ access to advanced educational opportunities. They highlighted that this investment reflects their commitment to supporting startups that offer innovative solutions to enhance the growth of the financial sector and empower future generations.