Erad raises $16 million in a Pre-Series A round to expand SME financing in Saudi Arabia, with support from investors like Y Combinator and Nuwa Capital.
Amount Raised
$16 Million
Round Type
Pre-Series A
RiyadhFinanceFintechInvestors
Description
Riyadh-based fintech platform Erad has raised $16 million to scale its Shariah-compliant financing solutions for SMEs across Saudi Arabia and the Gulf region. The funding round included investors such as Y Combinator and Nuwa Capital. Founded in 2022, Erad focuses on sectors like retail and healthcare. The new capital will help expand its presence and product offerings in Saudi Arabia.
Quick answer
Erad raised $16 Million in a Pre-Series A round, dated May 4, 2025. Investors: VentureSouq, Joa Capital, Oraseya Capital, Aljazira Capital, Khwarizmi Ventures, Nuwa Capital and Y Combinator. Erad is based in Riyadh, Riyadh Region, Saudi Arabia.
- How much did Erad raise?
- Erad raised $16 Million in a Pre-Series A round on May 4, 2025.
- Who invested in Erad?
- VentureSouq, Joa Capital, Oraseya Capital, Aljazira Capital, Khwarizmi Ventures, Nuwa Capital and Y Combinator are named as investors in this round.
- What does Erad do?
- Erad is on a mission to empower SMEs in the Middle East with financial solutions.
- Where is Erad based and how big is it?
- Erad is based in Riyadh, Riyadh Region, Saudi Arabia. Fundz records about 40 employees.
- Who are the decision-makers at Erad?
- Fundz holds 1 contact at Erad. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Finance and Fintech around the same time
Companies in the same sectors as Erad that raised within 45 days of this round, from Fundz verified event records.
Who to call at Erad, and when
A new round usually means Erad is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Erad raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Erad, from your own LinkedIn network
Works inside ChatGPT and Claude. Ask who to call at Erad. With Fundz connected, it knows.
AI made execution free. Knowing first is the whole game now.
Fundz sees it the moment Erad raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Erad raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
145 of these a day, filtered to the companies you pick, with the decision-maker attached.
5 screens from a live account. No signup.