erad
ActiveData-driven SME financing platform: revenue-based, invoice and working-capital funding, Sharia-compliant, approved within 48 hours
Riyadh-headquartered alternative financing platform for SMEs in Saudi Arabia and the UAE. Erad Financial Technology Company is a SAMA-licensed fintech lender (CR 1010721837); sister entity Erad Partners Capital Company holds a CMA investment-management licence. It underwrites Sharia-compliant, non-dilutive working capital from connected sales, marketing and banking data with 48-hour approvals. Y Combinator S22; $16M pre-Series A plus $33M and $125M debt facilities in 2025.
Founders
Funding Rounds
Lead: Y Combinator
Investors: Y Combinator
Y Combinator Summer 2022 batch accelerator investment (first Saudi-headquartered YC company). YC's standard batch deal amount was not disclosed by the company, so amount left null; year 2022. YC is not listed among investors in the September 2022 pre-seed, so this is not a double count. Also: https://www.linkedin.com/in/salem-abu-hammour-8717a6100/ Confidence: confirmed (round 13, Y Combinator).
Lead: Jefferies
Investors: Jefferies, Channel Capital
Investors: Jefferies, Channel Capital.
Lead: Stride Ventures
Investors: Stride Ventures
Debt financing announced at Money20/20 Middle East, Riyadh; 'other investors' participated but were not named. Also: https://www.zawya.com/en/capital-markets/loans/saudi-fintech-erad-raises-33mln-debt-round-at-money-20-20-middle-east-conference-ll8kwb6x https://www.finextra.com/pressarticle/107161/saudi-fintech-erad-raises-33m https://fintechnews.ae/27855/fintech-saudi-arabia/erad-33m-debt-financing-gcc/ Confidence: confirmed (round 13, Wamda).
Investors: Y Combinator, Nuwa Capital, Khwarizmi Ventures, Aljazira Capital, VentureSouq, Oraseya Capital, Joa Capital
Company calls this 'Pre-Series A' (SAR 60 million; $16M figure as printed). Recorded as seed for lack of a pre_series_a type. No single lead named. Also: https://www.menabytes.com/erad-pre-series-a/ https://www.entrepreneur.com/en-ae/entrepreneurs/we-got-funded-ksa-headquartered-erads-us16-million/490888 https://waya.media/erad-raises-usd-16m-to-expand-sme-financing-in-saudi-and-the-gcc/ Confidence: confirmed (round 13, Wamda).
Lead: Nuwa Capital and VentureSouq (co-leads, per Arab News)
Investors: Nuwa Capital, VentureSouq, Khwarizmi Ventures
Regional angel investors also participated. Wamda does not name a lead; Arab News names Nuwa Capital and VentureSouq as leads. Also: https://www.arabnews.com/node/2165426/business-economy https://fi.linkedin.com/posts/salem-abu-hammour-8717a6100_erad-raises-24m-in-pre-seed-activity-6977550943772946432-bMm- Confidence: confirmed (round 13, Wamda).
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