Working capital based on business cash flow
erad uses operating data to assess financing requests and track customer cash flow. Businesses use its Shariah-compliant working capital for needs such as inventory, fleet expansion, contracts and new locations; the platform serves SMEs across Saudi Arabia and the UAE.
Products for capital-intensive businesses
MEVP led the $22 million Series A, joined by new and returning investors. erad will develop financing products for industrial, logistics and manufacturing businesses, expand across the GCC and hire in technology and commercial roles.
Where the funding goes
- Develop financing products for industrial, logistics and manufacturing businesses
- Expand across the GCC
- Grow technology and commercial teams