Every round on record, with the sources behind each and the investors on them.
No description yet.
erad.coRiyadhFintechFounded 2022
1 source
Developing: it holds up against its sources so far, and firms up as more reporting lands.
| Round | Amount | Announced | Lead | Buzz |
|---|---|---|---|---|
| Pre-seed pre-Seed funding round [ HISTORY ]: An earlier round, from the company's own announcement, found while researching the company. Checked like any round, but not new, so it stays out of the daily feed and alerts; a date range shows it. | $2.4M | 2024-01-09 | not stated | No recent discussion |
1 source [ DEVELOPING ] Developing: it holds up against its sources so far, and firms up as more reporting lands. read against 1 source | ||||
Erad provides fast, Shariah-compliant working-capital and other financing to small and medium-sized businesses in Saudi Arabia and the UAE.
Erad is targeting the GCC's reported $250 billion SME financing gap with data-driven underwriting and Shariah-compliant funding that can be approved within 48 hours. Its Series A announcement says the company has grown 8x year over year in Saudi Arabia, deployed more than SAR 500 million to SMEs against over SAR 4 billion in requests, and is expanding into industrial, logistics and manufacturing sectors.
Checked against 8 sources today
Also named as backers in company research: Y Combinator, Palm Ventures, Doha Venture Capital, Joa Capital, Aljazira Capital, Oraseya Capital, MEVP, SVC, 500 Global, S60 Ventures, ANB Capital, Conjunction Capital, Araya Ventures, Stride Ventures, Jefferies, Channel Capital