KPMG announced Ejari as the winner of the fourth annual KPMG Global Tech Innovator competition for which the finals took place 28 August 2024 at the firm’s head office in Riyadh and was set out to recognizing the most impactful and promising startup in Saudi Arabia in the tech domain.
Ejari offers a ‘Rent Now Pay Later’ solution that gives tenants the convenience of flexible payment options in Saudi Arabia’s $50bn+ rental market where over 70% of real estate rentals are paid upfront on a yearly or bi-yearly basis.
Yazeed Al-Shamsi, Co-Founder and CEO of Ejari: “I am 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.
All finalists were given three minutes for a pitch, followed by a brief Q&A session, on basis of which the judges made their considerations. The panel of esteemed judges included Amal Dokhan, Managing Partner of the 500 Global, and Omar Al-Shabaan, Co-founder and CEO of The Space, in addition to KPMG’s own Dr. Samer M. Abdallah, Head of ICT Sector, and Maz Hussain, Head of Digital Lighthouse.
The panel of judges lauded Ejari’s efforts to drive financial inclusivity and its innovative approach the FinTech startup takes in its execution, while acknowledging it was a difficult decision in a competitive field with secen other finalists, notably: Amplifaihealth, Arib, Ivvest, Kabi, Reachware, Sadeem, SuperCommerce, who were picked from over 100 eligible applicants. The competition showcased entrepreneurs across industries who innovate to become the tech leaders of tomorrow.
The winner was chosen based on six parameters: disruption and innovation, market potential, customer adoption, market traction and marketing, long-term potential, and pitch quality.
“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,” said Dr. Samer Abdallah, who chaired the judge panel.
Ejari gets to represent Saudi Arabia in the global competition, pitching against the winning finalists from other countries and jurisdictions in the KPMG Global Tech Innovator finals that will take place in November during Web Summit 2024 in Lisbon, Portugal.
