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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.
Erad offers short-term working-capital products for business needs such as inventory, payroll, marketing or seasonal demand, as well as receivables financing that advances cash against outstanding invoices. SMEs apply online and provide business information; data-driven models assess eligibility, with the company saying decisions can arrive in as little as 48 hours. Its financing follows Tawaruq principles and is structured for repeat top-ups as cash needs change.
Small and medium-sized businesses use erad when cash is tied up in receivables or they need funds for operating costs and growth. They select a financing product, apply digitally and receive a data-based assessment; the platform is built to shorten the time between application and funding while keeping the financing Shariah-compliant.
| 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 |