Jeel Pay Secures $6.7 Million to Revolutionize Education Financing in Saudi Arabia

Just a year ago, Badr Al Dughesh, Faisal Al Hussain, and Mohammed Al Khodair were mapping out ideas on napkins. Today, they're celebrating a monumental $6.7 million pre-Series A funding round that's set to redefine education financing in Saudi Arabia.

"We started Jeel Pay because we saw families struggling with lump-sum tuition payments," explains CTO Badr Al Dughesh, his eyes reflecting both passion and determination. "Education is a right, not a luxury. We wanted to make it easier for parents to invest in their children's futures without the financial strain."

Leading the charge, JOA Capital recognized Jeel Pay's potential to make a real difference. CEO Yousef Alyousefi didn't just see an investment; he saw an opportunity to support a visionary team aligned with the nation's aspirations. "Jeel Pay is more than a fintech startup—it's a catalyst for social change," Alyousefi notes. "Their commitment to easing the financial burden on families resonates deeply with our goals under Saudi Vision 2030."

Aljazira Capital echoed this sentiment. In a heartfelt statement, they shared, "Investing in Jeel Pay means investing in our future generations. We believe their 'Study Now, Pay Later' model will open doors for countless students across the Kingdom."

The fresh influx of capital isn't just about numbers—it's about possibilities. Jeel Pay plans to channel these funds into developing state-of-the-art digital platforms and assembling a dream team of specialists. "We're on the lookout for creative minds and tech wizards who share our vision," says Al Dughesh with a grin. "Together, we'll craft solutions that not only streamline payments but also enrich the educational experience."

At its core, Jeel Pay's mission dovetails seamlessly with the ambitious goals of Saudi Vision 2030. By promoting financial inclusion and literacy, they're contributing to a diversified economy and a more informed society. "Education and finance are two sides of the same coin when it comes to national growth," remarks co-founder Faisal Al Hussain. "We're proud to play our part in this exciting journey for Saudi Arabia."

Reflecting on their journey, the founders recall countless late nights and the unwavering support of their families. "My daughter once asked why I was always working," shares CEO Mohammed Al Khodair. "I told her, 'I'm building something that will help you and your friends have a brighter future.' That's what keeps us going."

With their eyes set on the horizon, Jeel Pay is gearing up to expand partnerships with educational institutions nationwide. They're not just offering a payment solution; they're crafting a new narrative where quality education is accessible to all, regardless of financial standing.