Saudi JournalSaudi Journal
  • Home
  • Saudi Arabia
  • Business
  • Life
  • Technology
  • English
  • العربية
  • Submit A Press Release
Business

Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 

…

Business

Google joins forces with STV to boost AI innovation across MENA

…

Aramco-backed Prosperity7 joins TensorWave’s $100 million round

10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation

Facebook Twitter Instagram Pinterest
Latest posts:
  • Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 
  • Google joins forces with STV to boost AI innovation across MENA
  • Aramco-backed Prosperity7 joins TensorWave’s $100 million round
  • 10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation
  • Nqoodlet bags $3 million Seed funding to boost SME finance in MENA
  • Panasonic Bolsters Saudi Presence With New Distribution Partnership
  • Tuba launches in Saudi Arabia with $8 million investment
  • erad secures $16 million pre-Series A to bridge SME credit gap in MENA
Facebook Twitter Instagram Pinterest
Saudi JournalSaudi Journal
  • Home

    Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 

    Google joins forces with STV to boost AI innovation across MENA

    Aramco-backed Prosperity7 joins TensorWave’s $100 million round

    10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation

    Nqoodlet bags $3 million Seed funding to boost SME finance in MENA

  • Saudi Arabia
  • Business
  • Life
  • Technology
  • English
  • العربية
  • Submit A Press Release
Saudi JournalSaudi Journal
Home » erad secures $16 million pre-Series A to bridge SME credit gap in MENA
Business

erad secures $16 million pre-Series A to bridge SME credit gap in MENA

Facebook Twitter Pinterest LinkedIn WhatsApp
Share
Facebook Twitter LinkedIn Pinterest WhatsApp

erad, the Riyadh-headquartered alternative financing platform for SMEs, has successfully raised $16 million [SAR 60 million] in a Pre-Series A round to accelerate its growth and expand its operations in Saudi Arabia and beyond. The round was backed by leading global and regional funds, including YCombinator, Nuwa Capital, Khwarizmi Ventures, Aljazira Capital, VentureSouq, Oraseya Capital, and Joa Capital.

SMEs remain the backbone of the GCC economy, but access to capital remains a constant growth challenge with an estimated $250 billion credit gap. The funding will fuel erad’s mission to offer fast and flexible financing solutions to underserved small and medium-sized businesses through its proprietary, data-driven financing platform. Focused on revenue-generating businesses, erad provides access to Shariah-compliant financing within 48 hours.

Salem Abu-Hammour, co-founder of erad, commented, “While SMEs continue to power the GCC economy, entrepreneurs in retail, F&B, healthcare, and beyond struggle to secure the capital they need to scale up. Over 60% of our customers are first-time credit takers, and we are proud to be partners in their growth while fostering financial inclusion. Together with our investors, we are excited to play a role in the growth of these SMEs, which are having a significant economic impact in the region.”

To date, erad has supported hundreds of businesses with over SAR 100 million ($26.6 million) in funding in Saudi Arabia and the UAE, driving substantial growth for businesses in both markets. The demand for erad’s solutions continues to surge, with over SAR 2 billion ($532 million) in funding requests on its platform since its launch, highlighting the critical need for alternative SME financing in the region.

The company services customers across retail, F&B, e-commerce, healthcare, and beyond, including well-recognised businesses such as Citron, Wixsana, and House of Pops.

erad plans to use the investment to deepen its market presence and expand its product offerings. With its entry into Saudi Arabia, the company will focus on doubling down on local hiring across multiple roles. The company remains committed to enhancing financial accessibility for SMEs, driving sustainable economic growth, and contributing to Saudi Vision 2030’s objective of increasing SME participation in the national economy.

Share. Facebook Twitter Pinterest LinkedIn WhatsApp

Related Posts

Business

Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 

Business

Google joins forces with STV to boost AI innovation across MENA

Business

Aramco-backed Prosperity7 joins TensorWave’s $100 million round

Business

10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation

Business

Nqoodlet bags $3 million Seed funding to boost SME finance in MENA

Business

Panasonic Bolsters Saudi Presence With New Distribution Partnership

Business

Tuba launches in Saudi Arabia with $8 million investment

Business

CNTXT AI Unveils Munsit: The Most Accurate Arabic Speech Recognition Model

Leave A Reply Cancel Reply

Stay In Touch
  • Facebook
  • Twitter
Business

Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 

Panasonic Marketing Middle East & Africa (PMMAF) today announced the debut of its latest premium…

Google joins forces with STV to boost AI innovation across MENA

Aramco-backed Prosperity7 joins TensorWave’s $100 million round

10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation

Nqoodlet bags $3 million Seed funding to boost SME finance in MENA

Panasonic Expands Premium Beauty Range With Brand-New nanoe™ Hair Dryers 

Google joins forces with STV to boost AI innovation across MENA

Aramco-backed Prosperity7 joins TensorWave’s $100 million round

10 Korean STEM Fellows Engage with UAE National Experts on Future Cooperation

Nqoodlet bags $3 million Seed funding to boost SME finance in MENA

Stay informed with Saudi Journal, your trusted source for comprehensive coverage of news, events, and insights from Saudi Arabia and beyond. Explore diverse perspectives, stay updated, and engage with the latest stories shaping our world. Experience news like never before with Saudi Journal.

Facebook Twitter
Categories
  • Business (277)
  • Life (106)
  • Saudi Arabia (67)
  • Technology (64)
  • Uncategorized (1)
  • World (51)
    • Africa (9)
    • Asia (24)
    • Europe (4)
    • US (3)
Our Picks
Business

JMB Project Management Leads Healthcare Project Management Revolution in UAE

Business

Amsa Hospitality aims to enable a sustainable future with innovative ideas for a greener tomorrow

Life

Saudi Council Of Health Insurance Grants ACCUMED Saudi Arabia ‘Best RCM Service Provider’ Award

© 2025 Saudi Journal.
  • Home
  • Saudi Arabia
  • Business
  • Technology
  • Life
  • English
  • العربية

Type above and press Enter to search. Press Esc to cancel.