AVANA Companies announce SAR 22MM FDI in Saudi hospitality & SMEs

Award-winning AVANA Companies announce SAR 22MM FDI in Saudi hospitality & SMEs through fintech startup www.Ezdaher.sa

Riyadh, Saudi Arabia 3 August 2024 – AVANA Companies, the multi-award winning global ecosystem of B2B funding and FinTech, are excited to announce their foray into the Kingdom of Saudi Arabia (KSA), with the upcoming launch of www.Ezdaher.sa, with a focus on Shariah-compliant B2B funding for hotel projects. Phase one of the launch encompasses SAR22MM Foreign Direct Investment (FDI) to directly fund the hospitality and SME sectors through www.Ezdaher.sa.

This initiative leverages AVANA Companies’ extensive 22 years of finance experience globally, specializing in Commercial Real Estate Funding, mainly in the Hospitality sector. AVANA Companies, focus on innovation and technology, was recently recognized with the award for “Best Real Estate Investment Platform[1]” in the 2024 Fintech Breakthrough Awards. Other winners in this event include global financial giants like Moody’s Credit Report, Experian, and Coinbase.

“We are proud to win the Best Real Estate Investment Platform award in the prestigious 2024 Fintech Breakthrough Award. This is a testimony and recognition of the innovative work we have been doing for the last 22 years in stimulating the US economy and creating jobs.

We are excited about our new journey with Ezdaher in Saudi Arabia. SAR22MM investment in phase one is the first step in many more to come towards The Kingdom’s Vision 2030.”

Sundip Patel, CEO and Founder, AVANA Companies

The B2B funding platform, by Ezdaher Financing Company (Ezdaher), is focused on bridging the Kingdom’s $250Bn financing gap and supporting the development of 310,000 hotel rooms needed by 2030. This initiative aligns with the goals of the Kingdom’s Vision 2030 to promote entrepreneurial growth and local business expansion.

The excitement around the launch of Ezdaher is growing in the market with $6MM pre-seed capital already invested. The initial FDI in Ezdaher is just the beginning of more ambitious undertakings towards wider goals under Vision 2030.

The upcoming launch of Ezdaher brings decades of global experience of AVANA Companies ecosystem as well as a trusted name in global hotel funding. AVANA Companies has funded over $6.4Bn in projects and supported the creation of more than 5,500 jobs. This includes funding construction of well-known hotel brands such as Hilton, Marriott, IHG, Choice, and Wyndham, among others.