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.
AVANA Companies and Ezdaher is led by veteran Investor & founder Sundip Patel, who has over 30 years of investing and funding experience, including 18 years in the Middle East.
Follow Ezdaher’s journey as more major announcements will be coming soon. For further information on how to be part of this transformative Fintech, visit www.Ezdaher.sa to get in contact.
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About Ezdaher Financing Company
Ezdaher Financing Company (Ezdaher) is a Shariah-compliant fintech platform, specializing in B2B funding for SMEs in Saudi Arabia.
We offer fast business funding through our Business to Business (B2B) Shariah-compliant financing platform, specifically designed to help franchise hotel projects and hotel supply chain SMEs, to help address the $250 billion funding gap in the Kingdom of Saudi Arabia.
AVANA Companies has over 22 years of experience funding over $6.4Bn, including major hotel brands like IHG, Accor, and Hilton. Ezdaher leverages the extensive award-winning knowledge and experience of AVANA Companies.
Presently registered with the Ministry of Commerce (Registration No. 1010887991) Ezdaher has initial approval from the Saudi Central Bank and is currently undergoing the final stages of approval.
Coming soon on Android and iOS (subject to appropriate approvals).
Stay up to date at www.Ezdaher.sa
About AVANA Companies:
The AVANA Family of Companies (AVANA) is dedicated to stimulating local economies and contributing to clean energy development across the United States. Founded in 2002 by brothers Sundip and Sanat Patel, AVANA Companies is a family of funding and investment platforms that serve entrepreneurs and investors.
The company’s goal across the investment programs is to empower American small businesses by providing commercial real estate loans that are impactful and socially driven.
For investors AVANA Companies provides sound investment opportunities secured by real estate and driven by highly qualified sponsors. AVANA is headquartered in Arizona, USA with regional offices in Bahrain and Saudi Arabia (upcoming). It serves small business owners and investors across the United States, Saudi Arabia and Bahrain.
AVANA invests in the communities it serves, creating jobs, stimulating economic growth and contributing to sustainable projects. AVANA is named to the 2021 Inc. 5000 List of America’s Fastest-Growing Private Companies. AVANA Capital, LLC is licensed in California under DBO license number 603K752 and in Arizona under CBK license number 0921662.
To learn more, visit www.avanacompanies.com or follow AVANA Companies on LinkedIn.
Media Relations
Action Labs
Omer A Rana
o.rana@action-labs.co
[1] https://fintechbreakthrough.com/2024-winners
