Saudi Arabia-based fintech company JeelPay has raised SAR 25 million (US$6.6 million) in a Pre-Series A funding round.

The funding was led by Joa Capital, AlJazira Capital, and several unnamed angel investors.

JeelPay specializes in Buy Now, Pay Later (BNPL) services, focusing on education financing through its “study now, pay later” scheme.

This program allows parents to pay tuition fees for their children in installments.

The newly secured funds will support JeelPay’s expansion and development of new financing solutions and partnerships within the education sector.