Another interpretation: "for it was near" (Exodus 13:17). Near was the punishment of wicked Pharaoh, that the Holy One, blessed be He, would exact from him.
The Near Road and the Coming Reckoning Against Pharaoh
Yalkut Shimoni on Torah 227:1
דָּבָר אַחֵר, כִּי קָרוֹב הוּא, קְרוֹבָה הִיא פֻּרְעָנוּת שֶׁל פַּרְעֹה הָרָשָׁע שֶׁיִּפָּרַע הַקָּדוֹשׁ בָּרוּךְ הוּא מִמֶּנּוּ.