Saudi fintech company JeelPay raises $6.6 million

JeelPay, a Saudi fintech company specializing in Buy Now, Pay Later (BNPL) services for education financing, have raised SAR 25 million ($6.6 million) in a Pre-Series A funding round.

The investment came from Joa Capital, AlJazira Capital, and several angel investors.

JeelPay plans to use the capital for its expansion, as well as to develop new financing solutions and collaborate with educational institutions.

Through its “study now, pay later” service, JeelPay helps parents pay their child’s tuition upfront, providing flexibility in education financing. This funding reflects the growing interest from investors in the expanding start-up ecosystem within the GCC.