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erad
Saudi Arabia · Fintech · AI
A financing platform that provides Shariah-compliant working capital to small and medium-sized businesses in Saudi Arabia and the UAE.
Product
Erad provides Shariah-compliant working capital to small and medium-sized businesses in Saudi Arabia and the UAE. Its products cover operating needs such as inventory, payroll, marketing and seasonal demand, alongside receivables financing against outstanding invoices.
Businesses apply online and provide information for data-driven underwriting. The financing follows Tawaruq principles and supports repeat top-ups as cash needs change. Erad reports an average decision time of 48 hours and financing of up to SAR10 million.
Funding history
1 round · 1 with disclosed amounts| Announced | Round | Amount | Investors |
|---|---|---|---|
| Series A | $22M | MEVP — Lead500 Global — ParticipantAljazira Capital — ParticipantANB Capital — ParticipantAraya Ventures — ParticipantConjunction Capital — ParticipantJoa Capital — ParticipantKhwarizmi Ventures — ParticipantNuwa Capital — ParticipantOraseya Capital — ParticipantS60 Ventures — ParticipantSaudi Venture Capital — Participant |