Digitally transforming the Saudi rental system: Yazeed from Ejari shares insights

We’re chatting to influential people in the Saudi tech ecosystem. Recently we caught up with Yazeed from Ejari. Ejari is an online platform dedicated to making rentals more affordable and accessible in Saudi Arabia. 

Yazeed is a Saudi-born entrepreneur who was educated in Britain and began his career in Japan. When he wanted to immigrate back to Saudi, he found that the rental system operated on a yearly basis, making affordability a big problem for many people. This system spans both the professional and residential spheres which became a challenge for Yazeed.

“Some landlords offer flexibility, like paying every six months, but they increase the price by 20%, which is unreasonable. It’s a very traditional system with no background checks or credit screening, just a take-it-or-leave-it approach.”

So, as he says, he “gathered the troops” and set about creating a way around the system. Ejari was born to give people a monthly rental option. It is a platform that uses algorithms and AI to track rental insights, reduce paperwork, prevent fraud, and improve efficiency in the real estate sector. Ejari now covers 18 cities across 8 regions in Saudi Arabia, and has received over $50 million in demand for their services to date.

How has being part of NTDP and LEAP benefited Ejari, and how has it grown as a result?

NTDP was the first institution to give Ejari a grant to develop the project. The initial $40,000 got the ball rolling and was followed with another $40,000 when the project proved successful. NTDP provided them with invaluable validation, a network of entrepreneurs, office space, and legal and financial advisers. Everything a startup needs to get started.

From there they took part in initiatives and programs but the initial funding was the spark that made Ejari possible. 

What role did LEAP play in your growth?

Ejari met their first investor at LEAP 2023 says Yazeed. They were a VC fund from Britain that invested $400,000 after the first meeting. A year later they gave Ejari another $500,000. And they’ve been working with that investor ever since. LEAP was key in opening doors and allowing Ejari to be seen by the right people. 

How did LEAP increase Ejari’s visibility?

"LEAP gave us the platform that we needed to showcase what we were doing. To connect with other entrepreneurs, to connect with investors, to connect with the audience, be it customers, government regulators, or potential partners," said Yazeed. He was impressed by the sheer size of the event and all the opportunities for networking and collaborating, from dinners to meetups to lounges. When LEAP happens it feels like the whole world descends on Saudi. It’s not just the event itself, it’s a week the entire ecosystem looks forward to.

Thanks to LEAP Ejari closed a $1 million round in October 2023, followed by $15 million in October 2024.

“It’s truly a landmark event for startups.”

What are some highlights or proudest achievements to date?

In a year and half the company has grown to a team of 21 people and is active in 18 cities across 8 regions in Saudi. Leaving the office at 12am gives them a feeling of gratification, of creation value. Recently they moved to their own office after working in government-subsidized shared spaces. And then there’s the $1 million round in October 2023, followed by $15 million in October 2024.

“Having a job is like going to the gym - you get tired, take a shower, and leave. What we're doing is more akin to extreme hiking. There’s no breaks, no showers, and the air gets harder to breathe.”

How do you see LEAP continuing to support Ejari in the future?

LEAP continues to provide exposure, connections, and opportunities for collaboration. This year Ejari will be pitching at Rocket Fuel, and Yazeed will be taking part in several panels. Looking to the future, Ejari plans to have a bigger booth and more speaking opportunities. They want to expand beyond the borders of Saudi and possibly partner with financial institutions. 

“LEAP is the landmark event of the year, not just for us, but also for other startups. I know other startups that don't participate in any other event but LEAP and save all year to be able to attend and exhibit.”

What advice do you have for startups in the tech ecosystem? 

Show up. As a startup, you need to be seen. Make the most of events like LEAP. Get a pod, or a booth and join the conversation. Simply being at an event like that opens doors to the right people and connections. Learn from your mistakes, and the “No’s”. Every one is an opportunity to reassess and see what can be improved. Finally, fundraising isn't about pitch decks. It's about building relationships. 

We asked Yazeed to sum up the partnership between LEAP, Ejari and NTDP in five words: “Innovative, transformative, collaborative, tech-driven, and fruitful.”

We cannot wait to see what the future has in store for Ejari.