erad, a Saudi-based fintech providing alternative financing for SMEs, announced it raised $22 million in its Series A round. This comes on the back of deploying over $133 million and receiving more than $1bn in financing requests.
MEVP led the Series A round with participation from 500 Global, S60 Ventures, and ANB Capital, Conjunction Capital, Araya Ventures, and SVC.
This series also included existing investors: Khwarizmi Ventures, Nuwa Capital, Aljazira Capital, Oraseya Capital, and Joa Capital.
"SMEs represent approximately 50% of regional GDP and employ two-thirds of the workforce across the GCC, yet face a financing gap that limits their growth. This round marks a pivotal chapter for erad as our clients seek speed to capital and markets. We have proven that our model works, and businesses across sectors are coming to us because we make financing fast, fair, and frictionless, said Salem Abu-Hammour, Co-founder of erad. “What excites me most is where we go from here, which is deeper into new sectors, into new products that did not exist before, and powering the businesses that are scaling across the region.”
erad’s financing products are all Shariah-compliant, and approvals are provided within a 48-hour window on the average, closing the financial gap for businesses within the region.
The new investment will help the company leverage new products, expand across the region, and attract the talent needed in sectors such as logistics and manufacturing.
This new funding follows a $125 million facility it secured in 2025.
