Rent-now and pay-later startup wins KPMG's Global Tech Innovator competition

Ejari, a startup that offers a ‘Rent Now Pay Later’ solution to tenants, has been named Saudi Arabia’s most promising technology startup of the year in the Global Tech Innovator competition by KPMG.

The Global Tech Innovator competition is an incubator and accelerator for innovative tech startups. This year, over 100 startups applied for the competition, with eight selected for the final round. Held on 28 August at KPMG’s head office in Riyadh, Ejari came out on top as the competition’s winner.

Ejari was chosen based on six parameters: disruption and innovation, market potential, customer adoption, market traction and marketing, long-term potential, and pitch quality. Samer Abdallah, chair of the judge panel, said that Ejari stood out for its innovative approach, the impact it is making in an important and large market, and its contribution to financial inclusivity.

Commenting on the recognition, co-founder and chief executive Yazeed Al-Shamsi said: “We are very proud of this recognition by KPMG and want to think everyone in our team for making this dream a reality. We set out to develop this platform with the objective of democratizing access to the rental market with our solution, empowering and enabling tenants to change their rental bill from a large yearly expense into a manageable monthly one.”

“Simultaneously, landlords still receive their full yearly payment upfront as we aim to enhance their ability to rent out their properties faster and retain their best tenants for longer, fostering in the development of a thriving Saudi rental ecosystem.”

As KSA’s winner, Ejari now gets to represent Saudi Arabia in the competition’s global final, which will take place in November in Portugal. Ejari will then compete against around 25 other country winners.

Reflecting on the success of the KSA edition, Abdallah said: “At KPMG, we are supporting tech entrepreneurs now for several years. The Global Tech Innovator competition is becoming a wonderful community for innovators to accelerate their growth and become future industry leaders while we continue to be inspired by their innovative ideas.”