Bidaya Home Finance Company Asset Profile

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Year established

2015

Location

Riyadh Saudi Arabia

Primary Industry

Financial Services

About

Based in Riyadh, Saudi Arabia, and founded in 2015 as a joint stock company, Bidaya Home Finance, is a real-estate tech company that offers a digital platform for real estate financing. In October 2022, Bidaya Home Finance Company raised USD 65 million in venture funding from a new investor Saudi National Bank. As of October 2022, the firm is being led by its CEO, Faisal Al Nasser. The Company operates as a distributor of home finance contracts to retail consumers looking for middle and upper-income bracket residential real estate. The firm’s product includes fixed and variable ijarah, ijarah described as a disclosure, buy the bottom and rent back, land finance, incremental premium, decreasing premium, and programs such as discount points, real estate loan program, prefabricated units, and reduction of down payment in cooperation with the real estate development fund. The company intends to use the October 2022 funding to support the company’s balance sheet, lower financing costs, increase flexibility, and enhance its new strategic market-leading position moving forward.

Current Investors

Saudi National Bank, Public Investment Fund

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Primary Industry

Financial Services

Sub Industries

e-Financial, Web Applications, Application Integration Software, Accounting/Finance Software

Website

www.bidaya.com.sa

Verticals

FinTech, Real Estate Tech

Company Stage

Early Stage

Total Amount Raised

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